PEORIA, Ill. – Petersen Health Care says there will be no impact to patients it takes care of as the company goes through bankruptcy.
Petersen filed for Chapter 11 bankruptcy on Wednesday in the U.S. District Court of Delaware. The filing also requests that Petersen and 140 companies associated with it be tried in the same case.
Petersen reportedly owes $100-500 million to 5,000 to 10,000 creditors. Most of the companies are listed as being owned or managed by Petersen Health Care CEO Mark Petersen, with the rest owned in part by Petersen or other companies.
25 News reports it has secured a commitment of $45 million in debtor-in-possession financing for post-petition operating expenses and to help meet obligations to associates and providers.
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