WILMINGTON, Del. (AP) – Lawyers for a company that owns two Atlantic City casinos head to bankruptcy court.
A federal judge in Delaware on Wednesday will hold the first hearing into Trump Entertainment Resorts’ Chapter 11 filing. It’s the fourth such filing for the struggling casino company or its corporate predecessors.
The company owns Trump Plaza, which is closing in a week. It is threatening to close the Taj Mahal Casino Resort on Nov. 13 if it doesn’t win salary concession from union workers.
A shutdown which would make the Taj the fifth Atlantic City casino to close this year.
Trump Entertainment Resorts says it has liabilities of between $100 million and $500 million, and assets of no more than $50,000.
As of the end of July, the company employed 2,800 people.
Copyright 2014 The Associated Press.
