May 4, 2019 / 12:40 AM / 4 months ago

Lawsuits over debt and leases push assisted-living chain LaSalle into Ch. 11

Assisted-living-center operator the LaSalle Group Inc sought Chapter 11 bankruptcy protection on Thursday, succumbing to lawsuits stemming from its struggle to remain current on secured debt and lease liabilities estimated at about $85 million and keeping occupancy rates up.

The Irving, Texas-based company, which directly and indirectly owns interests in 40 facilities for people with Alzheimer’s and other forms of dementia, said in a filing in U.S. Bankruptcy Court in Dallas there are about 30 lawsuits pending against it regarding the liabilities.

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