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Penn Central Co faces bankruptcy amid reorganizing rail merger
Penn Central Co and its railroad affiliate face a bleak future as bankruptcy looms. The holding company seeks a share of reorganized assets, while creditors and 140000 stockholders confront immense losses. A court warns bankruptcy may be necessary if refinancing fails, ending the era of the nation’s largest merger.
MENTIONED IN THIS ARTICLE
Mike Avenenti
Philadelphia
UPI
Penn Central
Penn Central Co
Penn Central Company
York Central
Pennsylvania
Penn Central Transportation Co
Frm
U. S. District Court
Railroad
Archibald Deb. Johnson
Penn
Reorganized Transportation Company
Johnson
New Haven Railroad
American Finance
Penn Central Co. Stack
New York