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‘Dire’ Fiscal State Forces Rhode Island City Into Bankruptcy

Central Falls, Rhode Island’s poorest city, sought Chapter 9 bankruptcy protection as it struggles to meet pension obligations.

A petition was filed today after state officials failed to persuade police, fire and municipal employee unions to accept concessions and to get retirees to agree to lower benefits, according to a statement from Robert Flanders, a former state Supreme Court justice named to oversee the city’s finances. The city asked the court to permit the rejection of union contracts.