Trump Businesses File For Bankruptcy
Two weeks before the launch of the Donald Trump-hosted Celebrity Apprentice , the Wall Street Journal and other publications are reporting today (Tuesday) that Trump's casino group, Trump Entertainment Resorts, is expected to file for Chapter 11 bankruptcy. The company, which owns three Atlantic City casinos that have gone through bankruptcy twice, reported $50 million in assets and $500 million in debt. Nine other Trump companies, Trump Plaza Associates, Trump Marina Associates and Trump Taj Mahal Associates are also seeking protection. Collectively, the 20 largest creditors without collateral backing their claims are owed some $1.32 billion.