National senior living chain liquidates in Chapter 7 bankruptcy
The huge senior care facility operator is reportedly closing properties.
Senior living facility operators have faced enormous obstacles since the beginning of the Covid-19 pandemic that led many into financial distress and forced several of them to file for bankruptcy and sometimes permanently shut down.
Senior care home companies were overwhelmed in 2020 during the pandemic, as 40% of residents in facilities had or likely had Covid-19 that year. Over 1,300 facilities had infection rates of 75% or higher in surge periods, the U.S. Department of Health and Human Services Office of the Inspector General reported.
