Donald Trump Resigns, Company Owes $53 Mln

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Debts are due to be paid on February 17, while Trump and his daughter say they don`t want to take part in the shareholders` bad decisions.

Worthless investment

Donald Trump`s share in the Trump Entertainment Resorts amounts to less than 1 percent of his wealth, thus Trump says this investment is now worthless.

Donald Trump has resigned as the head of the Trump Entertainment Resorts Board of Directors, because the company is on the verge of bankruptcy, which might be declared next week, Bloomberg reports.

One of the most famous wealthy men in the world, Trump controls 28 percent of the Trump Entertainment Resorts, while his daughter Ivanka has also resigned from the company.

- I strongly disagree with the bondholders’ decisions and actions. Unless we’re going to be responsible for management it’s just not something that’s worthwhile – Trump told Bloomberg.

The company is laden by debt in the amount of 53 million dollars, and the day this hefty sum will be collected in February 17. Problems arose when the company lost New Jersey casino licenses, while they ended the reconstruction of their hotel last month, which was supposed to have been opened by 2010.

- It’s a disaster and I see what’s happened with so many others, and I don’t want to be a part of it – Trump said.

Donald Trump also said that he is not thrilled about the company perhaps using his name.

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