Will Pinnacle Stay in Memphis? - FOX13 News, WHBQ FOX 13

Will Pinnacle Stay in Memphis?

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Memphis, TN -

The fate of embattled Pinnacle Airlines might still be on hold as they restructure under bankruptcy protection.

Memphis Mayor A C Wharton says that hasn't stopped the city and the state from coming up with a proposal to convince the troubled company to stay put.

Just like the lyrics from the old Kenny Rogers song, in the area of business and economic development you have to "know when to hold 'em and know when to fold 'em."

Right now Mayor A C Wharton is holding his plan to keep Pinnacle Airlines in town close to the vest. Wharton says the plight of Pinnacle did arise during his talks earlier this week with Tennessee Governor Bill Haslam in Nashville.

It's been a rough two years for the airline after moving its

headquarters into the One Commerce Building downtown with the help of financial inducements from the city. The following year rising operational costs, cutbacks and layoffs weakened the company to the point it sought Chapter 11 bankruptcy protection in April.

While the company tries to restructure an offer from a Minnesota Economic Development Team to move the airlines operations, there has raised some concerns and calls for local government to do more to keep them here.

If pinnacle were to move, it would mean the company would leave the downtown headquarters that currently employs 450 people.

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