LAS VEGAS -- Riviera Holdings Corporation, which operates the Riviera Hotel and Casino in Las Vegas, announced Tuesday that it did not make a nearly $4 million interest payment due March 30.

Company executives refused FOX5’s requests to be interviewed, and instead released a statement that outlined a plan to restructure the company’s debt, currently tabbed at $245 million.

“We cannot assure you that we would be successful in completing a refinancing or consensual out-of-court restructuring,” the statement read, “If we were unable to do so, we would likely be compelled to seek protection under Chapter 11.”

The company says its current financial situation will have no effect on employees or customers.

Riviera Holdings reported a net loss of $12.7 million for the fourth quarter of 2008, or $1.02 per share. It lost $6.1 million, or $0.50 per share, in the same period in 2007.

Revenue was down 24 percent, to $36 million.