MESA, AZ — Valley Hospice of Arizona, a Mesa-based end-of-life care facility, has voluntarily filed for bankruptcy protection with at least $2.49 million owed to scores of creditors.
Valley Hospice on Nov. 12 declared Chapter 11 bankruptcy, which is the most common type of bankruptcy used to reorganize a failing business. This business is not connected to Hospice of the Valley, a larger chain of health care centers in the area.
Valley Hospice of Arizona did not immediately respond to multiple requests for comment on this story; its website is also “temporarily not available.”
Documents on file with U.S. Bankruptcy Court for the District of Arizona show that the company owes money to 77 creditors, many of which are unsecured.
Valley Hospice owes at least $2.4 million to these unsecured creditors, but it filed under Chapter 11 subchapter V, meaning it has less than $7.5 million in total debts owed.
Read more of this story from the Phoenix Business Journal.