Texas' Largest Nursing Home Provider Files for Bankruptcy
SAN ANGELO, TX—The operator of numerous nursing and senior living facilities in Texas, including in San Angelo, Senior Care Center LLC, announced bankruptcy, according to a press release by SCS LLC.
The reason for the bankruptcy is to actually strengthen the facilities, the company claimed. The bankruptcy will position each of the company's more than 100 skilled nursing and senior living communities to continue caring for residents while the company works to transition certain communities to new operators.
The Chapter 11 bankruptcy filing allows the company to address its burdensome debt levels and expensive leases, thereby improving the financial resources available for the communities, the company stated. Senior Care Centers has over 10,000 residents system-wide, the company spokesman said.
"All of the actions we are announcing today have one clear and overriding goal – to ensure every single one of our patients and residents continue to receive safe and comfortable care now and in the future," said Michael Beal, Chief Operating Officer. "This plan allows us to address certain financial issues while continuing to provide the critical care and support on which our residents rely while we work to transition certain communities to new operators."
The facilities will remain open through this transition due to the care needed for their patients. They will also remain paying their employees, as well as buying the goods needed to keep the centers open.
"As the entire industry has seen, the leases associated with the communities have become cost-prohibitive," Mr. Beal said. "This kind of action is absolutely necessary to address those costly leases while continuing to care for our patients and residents."
The three centers in San Angelo are operated by Senior Care. The locations include Senior Care of Meadow Creek, 4343 Oak Grove Blvd.; Senior Care of San Angelo. 5455 Knickerbocker Rd.; and the Regency House at 3745 Summer Crest Drive.