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Senior operators of living facilities have faced huge obstacles since the beginning of the roaming epidemic, which has led many to financial hardship and forced many bankruptcy and sometimes closed permanently.
The largest house companies were flooded in 2020 during the epidemic, where 40 % of the population in the establishments had had or probably that year. The Ministry of Health and Humanitarian Services at the US Department of Health and Humanitarian Services stated that more than 1,300 facilities were 75 % or higher in the increase periods.
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There was a major problem with higher facilities that employ challenges, as high infection rates led to a great loss in employees and difficulties in employing and training new employees.
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The economic issues launched as high inflation after the epidemic began on the expenses of higher facilities and the increase in the cost of products, supplies and employee wages. The highest interest rates in the past three years have also increased the cost of the debt of the facility operators.
The major care companies have also dealt with Medicare and Medicaid compensation and securing that led to a shortage of capital.
From 2021 to 2024, 51 senior care companies applied for bankruptcy with 13 at 2021, 12 in 2022, 15 in 2023 and 11 in 2024, according to data from Gibbins Adviss.
Among the operators who presented bankruptcy of Chapter 11 in 2023 is the role of evangelical retirement in the Greater Chicago, which presented Chapter 11 in June 2023 to sell its assets at the auction, Windsor Terras Health, 32 California and Three Care Homes in Arizona, in August 2023.
Business bankruptcy files files
Many of the major care facilities faced financial distress and applied to protect bankruptcy in 2024 as well. Magnolia Senior Leving, the operator of four facilities in Georgia, presented the protection of Chapter 11 on March 19, 2024.
One day later, the huge Petersen Care company, which was running about 100 nursing houses, living facilities with help, and long -term care facilities in Ilweni, Iowa, and Missouri, to obtain the protection of bankruptcy of Chapter 11 on March 20, 2024.
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Passevica is senior living to liquidate
Now, the giant care chain in Passevica, senior Leving, which runs about 93 care houses across the country, applied on March 24, 2025 to liquidate chapter 7, with some of its facilities that were appointed to evacuate and close the population.
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Passevica residents were informed of the senior Leving Levins Hills in Newhaal, California, in late February that they would need to get out of the 88 -units facility, which was scheduled to be closed on May 1, according to the reference.
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Passevica has also faced legal rulings as it settled a lawsuit in 2024 for $ 2.5 million, which included the Hildesburg living facility in Hildesburg, California, according to the Santa Rosa Press newspaper.
The San Diego debtor has been up to $ 100,000 in assets and $ 10 million to $ 50 million in debt in the US bankruptcy court of the southern region of California, San Diego.
Passevica runs the top Living, founded in 1978, an independent life, living, memory care, comfort, skill, and adult care facilities. Prices in the company’s facilities range between $ 1,795 to $ 7,500 per month for living with help, $ 2,500 to $ 7,200 to memory care, and $ 1995 to $ 695 for independent care, according to data from Sinyly.com.
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