Many Louisiana business owners are currently facing serious financial problems. Fluctuating global, national and local economies can cause unexpected financial crises that are difficult to resolve. As one business in a bordering state has determined, it is sometimes better to seek immediate debt relief than to try to stay afloat without outside support.
A company in a nearby region happens to be one of the largest senior centers in its state. This particular company has approximately 11,000 employees at numerous facilities, some of which are located here in Louisiana. The facilities also house approximately 10,000 patients. Some of the company’s centers will reportedly be transitioning over to new operators as the current debt resolution plan is executed.
Company officials say their debt relief plan will bear no negative consequence on patients or quality of care. To the contrary, the company believes that filing for Chapter 11 bankruptcy is the best way to resolve debt problems while continuing to provide the highest level of quality care to the company’s senior center residents. A restructuring chief for the senior care provision centers says the company’s top priority is to provide the best support possible that its residents deserve.
It is often much easier to recognize a serious financial crisis than to determine which debt relief option might best fit the situation. This is where an experienced bankruptcy law attorney can be a great asset. A Louisiana bankruptcy attorney can review a specific case and recommend options to resolve debt and lay the groundwork for a stronger financial future.