Small Alabama city files for bankruptcy

A small city in Alabama has filed for bankruptcy after taking an unexpected financial hit due to the coronavirus pandemic.Fairfield, Ala., located roughly eight miles from Birmingham, filed for Chapter 9 bankruptcy protection on Tuesday, saying that it had “exhausted its options” financially after years of trying to firm up its financials, Bloomberg reports.According to Fairfield’s filings with the U.S. Bankruptcy Court for the Northern…