MILWAUKEE (AP) — A federal bankruptcy judge has approved the sale of four suburban Milwaukee YMCA properties for $9 million.
The YMCA of Metropolitan Milwaukee filed for bankruptcy in June after its debt rose to $29 million. The sale will allow the Milwaukee Y to restructure into a more urban organization.
The YMCA of Central Waukesha County will buy the Y in Greenfield, another in Menomonee Falls and the West Suburban Y in Wauwatosa for $7 million.
The Journal Sentinel reports the Kettle Moraine YMCA will buy the Feith Family Ozaukee Y for $2 million.
Milwaukee Y president Julie Tolan says in the past two years competition from other health and fitness clubs has “escalated dramatically.”
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com