Mammoth Lakes yesterday filed for bankruptcy protection, becoming the 2nd Californian city in 6...

|By:, SA News Editor

Mammoth Lakes yesterday filed for bankruptcy protection, becoming the 2nd Californian city in 6 days to do so after Stockton entered Chapter 9 last week. Mammoth Lakes, which has assets of over $100M and debt of more than $50M, made the filing after its largest creditor refused to negotiate concessions on a $43M legal judgement. (previous)