The Great Platte River Road Archway, in Kearney, is bankrupt.

The tourist attraction filed for Chapter 11 bankruptcy Wednesday with the U.S. Bankruptcy Court for the District of Nebraska.  The filing will allow the attraction to stay open and keep its 10 employees while the Archway reorganizes its finances and wraps up settlements in court.

The Bankruptcy comes as the Archway reportedly owes creditors $20 million dollars, and a host of vendors over $121,000.

Wells Fargo Bank of Minneapolis is the trustee for the Archway’s bondholders, according Randy Wright, an Omaha attorney who represents the Archway.

Officials say the Archway had battled financially for years and has made little progress in repaying bonds and other debts it owes.

The Archway opened in August of 1999.