Y-ME closed its doors on July 12, 2012 and filed for Chapter 7 bankruptcy on July 17, 2012. One former employee said that the organization had mismanaged real estate leases while a former board member said that the organization closed due to the economic downturn, low Mother's Day Race receipts, and other short-term debt. Another former board member said that the organization had shut down because there had been " serious cash flow problem stemming from an unexpected cash flow crisis and low revenues from our major fundraisers put the organization in financial instability."