ATLANTIC CITY, N.J. — Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort, which would make it the fifth Atlantic City casino to close this year.
The company owns Trump Plaza, which is closing in a week, and the Taj Mahal, which has been experiencing cash-flow problems and had been trying to stave off a default with its lenders. The company said the Taj Mahal could close Nov. 13 if it doesn’t win salary concessions from union workers.
The company missed its quarterly tax payment due last month and says it doesn’t have the cash to make an interest payment to lenders due at the end of the month.
Donald Trump owns a 9 percent stake in the firm, but he neither controls it nor has any involvement in it. He is suing to remove his name from the properties.
