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
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