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One of Nation's Largest Skilled Nursing Home Chains Files for Bankruptcy

KENNETT SQUARE, CHESTER COUNTY, PENNSYLVANIA, JUL 16 – Genesis Healthcare owes $2.3 billion in secured and unsecured debt and secured $30 million in financing to support operations during Chapter 11 bankruptcy proceedings, court documents show.

  • On Wednesday evening, Genesis Healthcare Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, covering nearly 300 affiliated entities across 18 states.
  • After mounting debts and industry strains, Louis E. Robichaux IV reported $708.5 million in secured debt and $1.568 billion in unsecured claims, as liabilities related to past expansions, pandemic pressures, and a cyberattack prompted the filing.
  • Under court supervision, the company obtained financing, while affiliates of ReGen Healthcare LLC entered a stalking horse bid for most of its assets.
  • Vendor agreements and operations remain in place, and bankruptcy hearings are scheduled for August and September before Judge Stacey G. Jernigan.
  • This filing underscores systemic pressures across the sector, and experts warn more operators could soon face similar financial challenges.
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The Globe & Mail broke the news in Canada on Thursday, July 10, 2025.
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