19 nursing homes declare bankruptcy due to pandemic effects, labor shortages, and new regulations.

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19 nursing homes in Pennsylvania and West Virginia declared bankruptcy. This includes facilities operated by Guardian Healthcare, which filed for Chapter 11 bankruptcy protection. The company cited the lingering effects of the COVID-19 pandemic, labor shortages, wage inflation, and new staffing regulations as contributing factors.

This situation is part of a broader trend affecting senior care facilities across the United States, with many facing financial difficulties and closures.

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via post-gazette:

Guardian Healthcare, a Jefferson County-based long-term care provider for seniors, has filed for voluntary protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, affecting 19 nursing homes, pharmacies and related businesses in Pennsylvania and West Virginia.

All Guardian facilities are operating as normal as the for-profit Brockway-based company undergoes financial reorganization. Included in the filing were facilities in Bethel Park and Munhall in the Pittsburgh area and Beaver, Clarion, Erie, Fayette, Greene, Washington and Westmoreland counties.

“This action was taken to facilitate the divestitures and transfers of operations of its facilities, ensure continued services for its residents and preserve critical health care jobs,” the company said in a statement.

Guardian listed assets ranging between $1 million and $10 million and liabilities of $10 million to $50 million.