McHenry County Y files for bankruptcy

The YMCA of McHenry County filed for Chapter 11 bankruptcy protection this week, but its doors are expected to remain open as it tries to sell its assets to the YMCA of Metropolitan Chicago.

The filing was made in federal bankruptcy court in Chicago.

A statement of the organization’s board of directors posted on its website said: “This was a difficult decision for the board, but it is the right decision for the future of our local YMCA. Our goal in this process is to give the communities we serve a stronger, healthier YMCA, and reorganizing through bankruptcy provides an opportunity to do just that.”

Daily operations at the facility at 701 Manor Road in Crystal Lake won’t be affected by the decision and will continue without interruption, according to the statement.

The local YMCA attributed its bankruptcy filing to declines in membership and donations in the middle of the economic recession.

“But we believe the action we have taken is an important first step toward restoring our Y’s operational and fiscal health,” the statement said.

The YMCA has been in McHenry County for 46 years.