U.S. Jewish History Museum Goes Broke Over Debt for New Home (1)

March 2, 2020, 8:49 PM

The National Museum of American Jewish History is the latest exhibition hall that can’t pay its debts.

The Philadelphia museum filed for Chapter 11 bankruptcy protection and plans to restructure about $30 million of bonds sold through a local government agency five years ago to refinance debt taken on to build its current facilities. Misha Galperin, the interim chief executive officer, said in a statement that the debt “has been an unsustainable burden on the museum” and the bankruptcy will “allow us to go forward with exciting exhibits and programming.”

Museums are among the riskiest borrowers in the tax-exempt bond ...

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