Yesterday, Peter Cohan wrote that Trump Entertainment Resorts (NASDAQ: TRMP) could be on the brink of its fourth bankruptcy filing since 1991.Well it won't happen. At least, not until next month. In an 8-K filed with the SEC today, the company disclosed that "On January 21, 2009, the parties to the Noteholder Forbearance amended the Noteholder Forbearance to extend its term until February 4, 2009, unless certain events occur."
In other words, Trump will be back in this very situation in less than two weeks. The company failed to reach any kind of long-term restructuring.
Shareholders chose to notice that rather than the brief reprieve, and the stock has tumbled more than 10% today, to less than 25 cents per share. In 2006 it traded over $20.
Why do we have a weak dollar?
Holiday hiring slow for retailers
Closing Bell: What sell-off? (AIG, ABK, EPR, MBI, JAVA, ORCL, ERTS)
