MILWAUKEE — The
YMCA of Metropolitan Milwaukee has filed its formal plan of
reorganization with the U.S. Bankruptcy Court for the Eastern
District of Wisconsin. The Milwaukee Y filed for Chapter 11
bankruptcy in June.
The plan includes the sale of over 70 percent of the properties
owned by the Milwaukee YMCA, including the Y’s former charter
school, the Young Leaders Academy. It also calls for
transferring programs to organizations better equipped to handle
them, reducing staff by 55 percent to better align with a
smaller footprint, changes to the leadership team, and
negotiating the distribution of available sale proceeds.
The YMCA of Central Waukesha County agreed earlier this year to
purchase the Tri-County YMCA in Menomonee Falls, West Suburban
YMCA in Wauwatosa and Southwest YMCA in Greenfield for $7
million and up to an additional $1 million, based on profits
The Milwaukee Y will be transitioning away from some programs
and focusing on the areas of health and wellness and
non-academic youth development.