The team itself declared bankruptcy, but it's related to the owners' overall issues rather than anything to do with the team itself.
https://www.oregonlive.com/sports/20...cy-filing.html
Quote:
Winterhawks owner William Gallacher allegedly failed to repay money his companies had borrowed in 2018. The lender, Bridging Financing, went to court in Toronto earlier this month and claims it took control of several Gallacher’s companies, including the hockey team.
The court-appointed receiver is now in charge.
It’s unclear whether the bankruptcy and receivership will play out in Portland or in Canada. A number of Gallacher companies, including the hockey team’s parent, filed Chapter 15 bankruptcies. Chapter 15 is a relatively new type of bankruptcy filing for insolvency cases where the debtor’s interests are in more than one country.
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