Florida YMCA needs bankruptcy lawyer. Everyone is familiar with the YMCA. It has helped generations keep fit. Many have learned to swim at the YMCA. Other have taken part in sport leagues run by the YMCA. YMCA’s all over the country have struggled as new gyms have popped up. There are super gyms. Pilates and yoga studios have also been spreading. This has squeezed the gym market. The YMCA has hit hard times. The YMCA located in Destin, Florida filed a Chapter 7 bankruptcy. Okaloosa County had 3 branches of the YMCA, Destin, Fort Walton Beach, and Crestview. All three branches closed their doors to the public on October 10th. The Emerald Coast corporation ran all three branches. After closing all three branches, the corporation sought the counsel of a bankruptcy attorney. A week after the closures, the corporation filed a Chapter 7 bankruptcy. The city of Destin attempted to reopen the pool in Destin to the public on November 1st. The bankruptcy trustee put a stop to that plan. The trustee has ordered that all assets of the non-profit corporation be frozen. The city of Destin wanted the public to keep enjoying the pool. After hearing from the public, Destin’s City Council voted to enter into a short-term lease. The $30,000 lease with the Mattie Kelly Arts Foundation would have kept the pool in Destin operating until the end of the year. The YMCA in Destin was built on land it leased from the Arts Foundation. The bankruptcy attorney explained the trustee’s role in a Chapter 7 bankruptcy case is to oversee the liquidation of all assets available in order to pay creditors, if possible. All are hopeful the pools and The YMCA can reopen. With the help of an experienced bankruptcy attorney, the YMCA is tackling their debt problems. The hope is the residents of these Florida communities will soon be enjoying many more years of what the YMCA has given them.
Leave a Reply