😷New Chapter 11 Bankruptcy - South Hills Operations LLC😷
SNF capitulates under the weight of a DOL lawsuit. Seeks sales.
On May 17, 2024, South Hills Operations LLC and 21 affiliates (collectively, the "debtors") filed chapter 11 bankruptcy cases in the Western District of Pennsylvania (Judge Bohm).
South Hills Operations LLC is a PA-based nursing facility operator that provides long-term nursing care to its residents. The debtors break their organizational structure into 13 OpCos and 9 PropCos. The OpCos are the actual operational business, generating revenue from providing services to the nursing facility residents. The PropCos own the real estate and generate revenue by leasing it to the OpCo debtors. Each OpCo has a corresponding PropCo aside from 4 that lease from a third party. See the example below.