A year ago, LaVie Care Centers filed for Chapter 11 bankruptcy for the second time since 2021. The company cited a financial restructuring designed to improve its capital structure and position it for long-term success as the reason for filing. At the time, the operator’s portfolio comprised 43 skilled nursing facilities across five states. It secured a commitment of $20 million in debtor-in-possession financing from key stakeholders, including affiliates of Omega Healthcare Investors (LaVie’s largest landlord and secured lender). On June 1, LaVie completed its bankruptcy proceedings with the Omega-LaVie master lease being assumed and assigned to a new entity, Avardis. The monthly contractual rent amounts will remain the same.
LaVie Completes Bankruptcy Proceedings
