Triangle chapter of YWCA files for bankruptcy
Posted July 26, 2012
Raleigh, N.C. — The financially challenged downtown Raleigh chapter of the YWCA has filed for bankruptcy.
"After careful consideration and consulting with financial and legal advisers, the Board of Directors of the YWCA of the Greater Triangle has authorized the filing today of a Petition for Relief under Chapter 7 of the United States Bankruptcy Code," according to a statement released Thursday.
"The board has taken this action after thoroughly reviewing its financial condition and considering all other realistic options for its continued operations at this time," the statement continued.
Citing financial difficulties, the century-old chapter closed its doors on Hargett Street on Feb. 29. Programs were terminated and employees were laid off with less than 24 hours' notice.
YWCA officials have sought community partners to help continue running some of its programs.