Rhode Island City Declares Bankruptcy

Central Falls, Rhode Island, declared Chapter 9 bankruptcy yesterday, a virtually unheard of move prompted by a mass of unfunded pension and retiree health benefits. Central Falls, which Reuters calls “the smallest city in the smallest US state,” has just 19,000 residents—yet it has a budget of $17…

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Rhode Island City Declares Bankruptcy

Posted by on August 2, 2011. Filed under News, World News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.