A small city in Alabama has filed for bankruptcy after taking an unexpected financial hit due to the coronavirus pandemic. Fairfield, Ala., located roughly eight miles from Birmingham, filed for Chapter 9 bankruptcy protection on Tuesday, saying that it had "exhausted its options" financially after years of trying to firm up its financials, Bloomberg reports.
Thursday, May 21, 2020
Alabama Bankruptcy Foreshadows Pandemic Economic Crisis For Kansas City
We always welcome notes from our smarter readers. Here's part of a message sent in offering a glimpse at the future for many American cities unable to cope with the ongoing financial strain of the pandemic . . . Checkit: