The Herald of Everett, Washington
Customer service  |  Subscribe   |   Log in or sign up   |   Advertising information   |   Contact us

The top local business stories in your email

Contact Us:

Josh O'Connor
Phone: 425-339-3007

Maureen Bozlinski
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049

Jim Davis
Phone: 425-339-3097

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

U.S. Slavery Museum files for bankruptcy protection

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
RICHMOND, Va. -- The U.S. Slavery Museum has filed a reorganization plan that assumes it can raise at least $900,000 a year and would repay the city of Fredericksburg, Va., $15,000 a quarter for back taxes over four years.
The Fredericksburg museum envisioned by former Gov. L. Douglas Wilder owes creditors about $7 million, and has filed documents with the U.S. Bankruptcy Court in Richmond spelling out how it intends to repay them.
The Free Lance-Star reports that the museum's lawyer said in the filing that the museum "conservatively estimates" it can raise $900,000 in the first full year of fundraising and that donations will increase by 50 percent in subsequent years.
Besides Fredericksburg, other creditors include Pei Partnership Architects, which the museum owes $3.68 million.



Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup