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News stories tagged with "bankruptcy"

Utica is among the cities DiNapoli has identified as <a href="http://www.osc.state.ny.us/press/releases/jan13/012913.htm">facing continued fiscal challenges.</a> Photo: <a href="http://www.flickr.com/photos/dougtone/">Doug Kerr</a>, Creative Commons, some rights reserved.
Utica is among the cities DiNapoli has identified as facing continued fiscal challenges. Photo: Doug Kerr, Creative Commons, some rights reserved.

Could Upstate NY cities go the way of Detroit?

The City of Detroit's declaration of bankruptcy has left some in New York wondering whether any upstate cities will be next. State officials say they are trying to help with financial planning guidance, but local governments say more needs to be done.  Go to full article

Fate of bankrupt P & C grocery stores could be decided Friday

A federal judge could soon decide the fate of P&C grocery stores in the North Country. Penn Traffic Company, based in Syracuse, owns the markets. The company filed for bankruptcy protection in November. The stores are still open, but their futures are unclear. Penn Traffic has offers for all or part of its chain. The union representing current workers has objected to at least one. A federal court is now sorting through the alternatives.
Jonathan Brown has more.  Go to full article

Mercy of Northern New York Files Reorganization Plan

Mercy of Northern New York in Watertown took what they hope is their first step out of bankruptcy in court on Monday. If they don't succeed, potential buyers of the health care facility are surfacing, and workers are choosing sides.  Go to full article

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