03/26/2024
Petersen Health Care Files Bankruptcy
Petersen Health Care, an elder care company headquartered in Peoria, Illinois, which owns and/or operates about 90 senior care facilities, mostly in rural Illinois, has filed for federal bankruptcy protection in Delaware.
The company, which currently houses more than 5,000 residents, disclosed that has roughly $163 million in senior facility-related debt, with a total debt of about $295 million dollars.
According to one of its bankruptcy attorneys, Petersen Health plans to sell its nursing homes to new care providers in the bankruptcy proceeding.
Skilled nursing facilities owned by Petersen Health in southwestern Illinois which could be impacted by the bankruptcy filing include Collinsville Rehab and Health Care Center, Robings Manor Rehab and Health Care Center and Courtyard Estates, both located in Brighton, Illinois, Lebanon Care Center in Lebanon, Illinois, and Swansea Rehab and Health Care Center in Swansea, Illinois.
I urge family members who have loved ones residing in Petersen Health-owned facilities to check on the residents, and ask questions of the administration as to whether, and if so, how, care may be impacted by the bankruptcy filing and planned sales of any Petersen Health facilities.
Source: Thomson Reuters