Billionaire real estate mogul Donald Trump has been hit by the global economic downturn - one of his companies has filed for bankruptcy.
Trump Entertainment Resorts Inc., of which Trump served as a boardmember, struggled to combat debts of $1.25 billion (£880 million) and filed for Chapter 11 in a New Jersey bankruptcy court on Tuesday (17Jan09).
Trump stepped down from the board last Friday (13Feb09).