Friday, October 24, 2014
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City has no plans to hire turnaround firm

City denies plans to hire restructuring firm

City has no plans to hire turnaround firm

Last week, Bloomberg reported that Philadelphia officials met with turnaround firms including Alvarez & Marsal to determine whether the city should hire an adviser to study cost cuts.

That story quoted Managing Director Richard Negrin as saying Philadelphia had no plans to hire the firm. On Monday, Negrin repeated that.

"We're not in the process of engaging them for anything," Negrin said.

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