Preferred Care Asks for Fourth Extension on Bankruptcy Restructuring Plan

Preferred Care, a nursing home operator that filed for Chapter 11 bankruptcy protection last year, is seeking another extension for the exclusive period in which it can file and confirm a plan of reorganization. The motion, filed Monday, is the fourth such request entered this year, and would extend the exclusivity period by 91 days if […]

Out-of-Town Skilled Nursing Investors Get Low Marks in Western N.Y.

Out-of-town investors have snapped up a third of the 47 nursing homes in the Western New York towns of Erie and Niagara since 2007, and a Sunday report from The Buffalo News questions whether care in the region has suffered as a result. Eight out of the 10 local nursing homes in Erie and Niagara rated “much […]

Sapphire Care Group to Take Over 21 Preferred Care Locations in Kentucky

Preferred Care Inc., which filed for bankruptcy in November of last year, has transferred its 21 skilled nursing facilities in Kentucky to Sapphire Care Group, The Wall Street Journal reported Monday. Thirty-three of the Plano, Texas-based Preferred Care’s facilities filed for Chapter 11 bankruptcy protection last year in the face of 163 personal injury lawsuits. […]