YMCA of McHenry County Facing Bankruptcy

Even your local YMCA could be considering filing for bankruptcy, like the YMCA of McHenry County in Illinois. It is now considering selling its assets to the YMCA of Metropolitan Chicago.

This came as a surprise to those who had supported the YMCA's decision to add new facilities to the tune of millions of dollars. Located at 701 Manor Road in Crystal Lake, it sunk millions into the exercise and gym facilities, along with additional expenses, but still faced declining membership and competition from other gyms.

The YMCA of Metropolitan Chicago is amenable to the sale, stating that " we would welcome the opportunity to serve the needs of McHenry County and bring trust YMCA of Metropolitan Chicago programs to the region." regular patrons of this Y shouldn't experience any difference in their membership with the transition. Nor will the staffing or daily activities be altered either.

This particular Y location has been open for 45 years and employs 11 full-time employees and 35 to 40 part time employees.

If you're facing bankruptcy, contact our law office to discuss your financial situation with a Chicago bankruptcy lawyer.