Children's Museum to declare bankruptcy

A decade-long plan to build a Children's Museum in the San Fernando Valley imploded Thursday - a victim of the recession, weak public support and funding problems - as officials for the facility announced they will file for bankruptcy. Daily News.

The board of directors has accepted the recommendation of its attorneys to file for Chapter 7 bankruptcy - liquidation - conceding the impossibility of raising enough money to repay the loans and operate the museum.

"It's just tragic to see all this end," said Executive Director Cecilia Aguilera Glassman, who was hired two years ago to raise money for the $52 million, 57,000-square foot facility planned for the Hansen Dam Recreation Area.