No, the company says it has nothing to do with Detroit's Chaper 9 bankruptcy filing.
Yes, it says it's broke.
The Windsor Star reports that American Roads LLC, the investment company that that leases and operates the U.S. side of the Detroit-Windsor tunnel has filed for bankruptcy, citing.
Reporter Dave Battagello writes:
Court documents filed in New York by American Roads LLC cited declining traffic numbers at the tunnel, plus other holdings that include four toll roads and bridges in Alabama.leading to debts of $830 million which need to be restructured.
The bankruptcy is not connected to last week’s similar filing by the city of Detroit – which owns the Detroit side of the tunnel and has a long-term lease with American Roads.
“This is a strategic decision to effect a restructuring of our financial obligations,” said Neal Belitsky, tunnel president and CEO of American Roads. “It is not the result of any operational problems.”
