(Wall Street Journal) – Among nearly 2,000 of these types of facilities nationwide, at least 16 of them have filed for chapter 11 since the outbreak of Covid-19 in March 2020, according to a Wall Street Journal review of court filings and Gibbins Advisors, a healthcare restructuring advisory firm.

Chapter 11 filings rose during the pandemic period primarily because these facilities didn’t have enough new move-ins. Those 16 bankruptcies wiped out more than 1,000 families’ savings totaling at least about $190 million accumulated over decades, based on the Journal’s analysis; 212 of those families were in Harborside, a Harborside lawyer said at a May bankruptcy-court hearing.

Representatives for Harborside didn’t respond to requests for comment. (Read More)