City of San Bernardino seeks bankruptcy protection
San Bernardino, Calif., will become the second largest city in the nation to file for bankruptcy, according to The Associated Press.
San Bernardino, Calif., will become the second largest city in the nation to file for bankruptcy, according to The Associated Press (AP). The City Council for the southern California city of about 210,000 people voted Tuesday night to seek Chapter 9 bankruptcy protection. Stockton, Calif., the nation’s largest bankrupt city, filed June 28.
San Bernardino faces a $45.8 million budget deficit. The city has already stopped paying some vendors, and Interim City Manager Andrea Miller told the council that the city may not be able to make payroll over the next three months.
Read the entire story in American City & County, our sister publication.
Tags: News
