The owners of a continuing care retirement community on Long Island have filed for pre-negotiated Chapter 11 bankruptcy protection for the second time in seven years, as it looks to restructure $199.5 million in bond debt. The CCRC, The Amsterdam at Harborside in Port Washington, New York, cited struggles to attract new residents, which were exacerbated by the coronavirus pandemic, as the impetus for the filing, and hopes the latest debt restructuring will allow the organization to pay vendors, and avoid layoffs and cuts to resident services.
Read the full article: Long Island CCRC Files for Bankruptcy //
Source: https://seniorhousingnews.com/2021/06/16/long-island-ccrc-files-for-bankruptcy-seeks-to-restructure-199m-in-bond-debt