UPDATED 3:53 P.M.
PEORIA, Ill. – Petersen Health Care of Peoria has reportedly filed for bankruptcy.
Petersen filed the Chapter 11 bankruptcy paperwork Wednesday in the U.S. District of Delaware.
The filing comes after reports that Petersen owed more than $51 million to lenders; with one lawsuit alleging $31 million owed, and another alleging $19 million were unpaid in Housing and Urban Development loans.
Seventeen facilities owned by Petersen were placed in receivership last month, including Timbercreek Rehab and Health Care in Pekin, Fondulac Rehab and Health Care in East Peoria, and facilities in Canton and Bloomington.
Petersen also owned facilities in Missouri, Iowa, Colorado, and Alabama.
Petersen listed 141 different companies it owns under the filing. CLICK HERE to read an example of one of the filings (PDF file).
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