Muni-Financed Nursing Homes in Georgia, Alabama Seek Bankruptcy – Bloomberg Law

A North Carolina non-profit than owns assisted living facilities in Georgia and Alabama filed bankruptcy, threatening to impose losses on bondholders.

Subsidiaries of the Regional Housing and Community Services Corporation, have issued about $50 million of municipal bonds issued through the Public Finance Authority in Wisconsin, according to data compiled by Bloomberg.

RHCSC, which is affiliated with Hickory, North Carolina-based for-profit operator ALG Senior, retained GGG Partners LLC as restructuring adviser, according to the Thursday filing in the U.S. Bankruptcy Court for the Northern District of Georgia.

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