Treeside Charter School today announced that it has formalized efforts to reorganize by filing a voluntary petition under Chapter 11 of the Bankruptcy Code. Chapter 11 permits organizations in distress to continue operating and to restructure their finances.
This is not a Chapter 7 bankruptcy liquidation case. Treeside’s Chapter 11 filing will allow us to address issues with creditors, including a recent property dispute with our landlord, in a central and organized venue for resolution. This is an act by Treeside to protect our school, our employees and state-funded assets from the actions of private entities.
This will enable us to resolve the issues as part of an overall plan for the school’s long-term success. Please know that everything at the school will operate as it does right now throughout this process. The school remains committed to our students, teachers, and staff. Treeside has the intent and ability to ensure the teachers, staff, vendors, and others continue to be paid on time and receive the support they need to educate our students. For parents, please know that all of our students will continue to receive the excellent Waldorf-inspired education Treeside provides.
This school and what it stands for will be here for a long time. This is simply a reorganization that will allow our school to emerge stronger for the long term growth of the school and its mission. We value our teachers, staff, students and families and their support in this process.