Quote:

CBS Local
OAKLAND (CBS SF) — The operator of the Port of Oakland’s second-largest terminal filed for bankruptcy Monday. The filing comes less than two weeks after the operator suddenly announced ceasing operations about seven years into a 50-year lease.

Ports America announced on Jan. 19 it would wind down operations at the port’s Outer Harbor terminal over the next 90 days, saying it wanted to concentrate on other West Coast ports.

But in court filings Monday, as Ports America filed for Chapter 11 bankruptcy protection, the company said it has been operating at a loss for years in Oakland and is expecting to have difficulty immediately paying its utility bills as it winds down its operations, estimated to be about $221,500 per month.

For now, Ports America remains in the facility, still owes rent to the port and there is cleanup that needs to be done before it leaves Outer Harbor for good on March 31, port spokesman Michael Zampa said.



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http://sanfrancisco.cbslocal.com/2016/02/01/port-of-oaklands-second-largest-terminal-operator-files-for-bankruptcy/