Donald Trump's Entertainment Unit Files for Bankruptcy
Donald Trump
The current economy is tough on everyone — even Donald Trump.
The Apprentice star's casino group, Trump Entertainment Resorts, filed for Chapter 11 protection after missing the last deadline for a $53 million interest payment that was due at the start of December, according to the Financial Times.
Like many other casino operators, Trump Entertainment, which owns three resorts in Atlantic City, has seen a slump in visitor attendance and gaming thanks the economic slowdown.
This is Trump's third trip to bankruptcy court, with the most recent proceedings taking place in 2005.
Trump, who owns 28 percent of the business unit, will never have to hear the words "You're fired" — he resigned from the board last week.
Trump's Celebrity Apprentice kicks off its second season on March 1.
