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Wednesday, September 15, 2010 - 4:48am

Deal Won't Seek Bankruptcy

Updated: 4 years ago.
According to the Atlanta Journal-Constitution, GOP gubernatorial hopeful Nathan Deal lost $2 million in a business investment. (photo courtesy Deal campaign)

Republican gubernatorial candidate Nathan Deal acknowledges he has financial problems but says he won't file for bankruptcy to cope with debts stemming from an investment in his daughter and son-in-law's failed sporting goods store.

Deal is facing multi-million-dollar debts that exceed his assets because his daughter and son-in-law filed for bankruptcy, leaving him with financial responsibility for bank loans to finance the store.

Deal told a news conference on Wednesday that he will not file for bankruptcy and will pay the debts, which total more than $2 million. He said his financial troubles are a sign he's facing the same economic turmoil as most Georgians, and that the investment was something parents do to help their children.

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