Absolut Care Voluntarily Files for Chapter 11 Bankruptcy Protection
By: Absolut Facilities Management, LLC
EAST AURORA, N.Y. - Sept. 11, 2019 - PRLog -- Absolut Facilities Management, LLC ("Absolut Care" or the "Company) announced that on September 10, 2019, it and certain of its subsidiaries each filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of New York.
These actions were taken in an effort to help the company financially reorganize itself and better position itself for the future. Similar to many other companies that have successfully utilized the chapter 11 process to restructure their finances, the Company expects to emerge from bankruptcy stronger than before.
While the Company intends to and has received regulatory approval to close its Absolute Care of Orchard Park facility, all of the Company's other facilities (Allegany, Aurora Park, Gasport, Orchard Brooke, Three Rivers and Westfield) will remain open, and will continue to conduct normal operations and provide usual services, including rehabilitation and nursing services and long-term adult care during, the restructuring process.
"As we have seen in recent days with the announcement of the closing of Newfane Hospital, health care generally, and specifically long termlong-term care, faces significant challenges,"
In addition, the Company expects to continue operating its business as usual with its vendors and suppliers during the chapter 11 process, as the Company will be paying in full for all goods and services provided after the filing date.
For more information about Absolut Care's restructuring, including access to Bankruptcy Case documents, please visit https://cases.primeclerk.com/
About the Company
Absolut Facilities Management, LLC operates senior care and skilled nursing health facilities across Western New York and Buffalo. The Facilities provide long-term care and rehabilitative services to approximately 10,000 patients.