Raleigh YWCA files for bankruptcy

July 26, 2012 6:12:26 PM PDT
The cash-strapped downtown Raleigh YWCA filed for bankruptcy Thursday.

In a statement, the board of directors said made the decision after consulting with financial and legal advisers:

"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 with the United States Bankruptcy Court in Raleigh, North Carolina. 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 century-old chapter closed its doors on Hargett Street in February without any warning.

That decision left hundreds of people who depend on YWCA services scrambling for help.

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