Detroit's 2013 bankruptcy and recovery
Detroit filed for the largest municipal bankruptcy in U.S. history, carrying over $18 billion in debt. The city exited with a plan to restructure finances, cut blight,and invest in public services.
Essential services were curtailed; neighborhoods experienced continued depopulation.
Since exiting bankruptcy, Detroit has attracted new private investment, particularly in downtown and Midtown, with many food and beverage businesses opening.
Lucy Pearls's license request comes at a time when Detroit's economic recovery is fueling new commercial ventures, including on major corridors like Woodward.
