The YMCA of Metropolitan Milwaukee has filed for chapter 11 protection, WISN.com reported yesterday. The organization said it will sell a majority of its owned real estate to help pay down $29 million in debt. The group said it has budgeted earnings before interest, depreciation and amortization of $950,000 in 2014. The organization said that financial complications over the past few years, combined with declining membership, decreasing contributions and millions of dollars in deferred maintenance costs have made the current financial model unsustainable.
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