The parent company to the Promises rehab centers, known for treating celebrities including Lindsay Lohan, Britney Spears and Charlie Sheen, filed bankruptcy on May 23 as part of a plan to sell itself to a group of lenders.
Elements Behavioral Health, a for-profit company that owns residential and outpatient treatment centers as well as sober-living facilities and drug-screening operations, entered Chapter 11 bankruptcy and plans to continue operating as it reorganizes, it said in a press release. Its lenders will offer financing to allow it to operate while it’s in bankruptcy.
“As we move forward with our restructuring, we expect ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.