California City Could File For Bankruptcy By End of Week

June 27, 2012 Updated Jun 27, 2012 at 12:11 PM EDT

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California City Could File For Bankruptcy By End of Week

June 27, 2012 Updated Jun 27, 2012 at 12:11 PM EDT

The California city of Stockton is on a path toward bankruptcy.

According to the Stockton Record, the city could file for Chapter 9 bankruptcy protection in federal court by the end of the week. Stockton would be the largest city in the U.S. to file for bankruptcy protection.

Read the Stockton Record coverage HERE.