The Las Vegas Monorail Company has filed for Chapter 11 bankruptcy.
The operator of the monorail that runs along a portion of the Strip made the announcement Monday.
CEO Curtis Myles said in a statement the monorail hasn’t been able to reopen since shutting down in March because of the pandemic.
He said it is in the company’s best interest to file for bankruptcy and sell the system’s assets. The board of directors authorized the filing, which is part of the company’s sales agreement with the Las Vegas Convention and Visitors Authority.
The LVCVA has already entered into an agreement to purchase the transit system for $24 million.