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Detroit Files For Bankruptcy!

Filed under: Legal MattersPolitikSad Sad

detroit michigan files bankruptcy

So terrible.

Detroit filed for bankruptcy on Thursday under Chapter 9 protection, following a budget deficit of over $380 million.

The Motor City has had major financial troubles over the last few years, due to several reasons, including a large population decrease — but hope still remained when the state brought in bankruptcy expert Kevin Orr.

Though Kevin tried to propose and implement a plan to restructure Detroit’s current system, his difficulties in doing so, coupled with the city’s inherent problems led to the state-appointed emergency manager’s file for bankruptcy.

Michigan Governor Rick Snyder wrote:

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