Henry Ford Village, a 1,038-bed nonprofit continuing care retirement community (CCRC), has filed for Chapter 11 bankruptcy protection. The spectre of financial distress has loomed over the senior living industry since Covid-19 began sweeping across the United States last spring, placing providers under enormous operational and financial pressure. Providers that were strained prior to the pandemic have been particularly vulnerable. Henry Ford Village is another case in point, as Covid-19 compounded existing financial challenges and created a “perfect storm” for the CCRC, according to court documents.
Read the full article: 1,000-Bed CCRC Henry Ford Village Files for Bankruptcy Amid Covid-19 ‘Perfect Storm’ //
Source: https://seniorhousingnews.com/2020/11/01/1000-bed-ccrc-henry-ford-village-files-for-bankruptcy-amid-covid-19-perfect-storm