An auction has been set for 10 a.m. on Dec. 16 for the assets of LRGHealthcare, including Lakes Region General Hospital and Franklin Regional Hospital, under a schedule agreed to in U.S. Bankruptcy Court in Concord as part of bankruptcy proceedings. Two weeks ago, LRGH, saddled with more than $100 million in debt, filed for reorganization under Chapter 11 of the federal bankruptcy code. Concord Hospital has offered to acquire LRGH’s assets for $30 million and run the facilities. This will serve as an initial bid that could go higher. LRGH has more than $100 million in real estate holdings alone.
Read the full article: Auction Set for LRGHealthcare’s Assets //
Source: https://www.laconiadailysun.com/news/local/auction-set-for-lrghealthcare-s-assets/article_e9efc314-2073-11eb-9c9b-7feb049464a2.html