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Eagle Senior Living Files for Chapter 11 Bankruptcy in Delaware

Jan. 14, 2022, 6:19 PM

American Eagle Delaware Holding Company LLC, a Michigan nursing home chain, filed for Chapter 11 bankruptcy in Delaware on Friday.

  • Ann Arbor-based chain listed both assets and liabilities in the range of $10 million to $50 million
  • Company operates as Eagle Senior Living
  • It has locations in six states including Florida and Ohio, according to its website
  • Holding company has $215 million in outstanding municipal debt
    • Bonds were issued by Capital Trust Agency in Florida in 2018
  • Portfolio had weaker occupancy than projected and “significant overruns” in salaries, insurance, food and administrative expenses,” according to 2019 rating report by S&P ...

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