With the stroke of a pen Gov. Haley Barbour signed Bill 3186 Monday evening, allowing Natchez Regional Medical Center to legally declare bankruptcy.
In February, the hospital revealed it had large-scale financial troubles.
Since then, the hospital’s administrative staff has been restructured and all employee salaries have been cut by 5 percent.
Later, the hospital’s board of trustees announced plans to pursue bankruptcy as a means to halt the hospital’s downward financial spiral.
Board members said a Chapter 9 bankruptcy declaration would allow the hospital to keep creditors at bay while exploring other means of righting the hospital. However, the hospital could not legally declare bankruptcy until the bill allowing bankruptcy was signed into law.
Magnolia Tribune
