Virginia United Methodist Homes of Williamsburg, Inc., the parent company of WindsorMeade, has closed its Chapter 11 reorganization.
VUMHW filed for Chapter 11 restructuring in March, with plans to re-emerge from bankruptcy no later than May 31 this year, as part of an agreement between the company, its banks and at least two-thirds of its bondholders, which is required for Chapter 11.
The reorganization plan was implemented by the projected date, May 31.
“We are pleased that WindsorMeade has emerged from reorganization in such a short period of time,” said Christopher Henderson, WindsorMeade’s president, in a news release. “This speedy resolution is a testament to strong partnerships with our lenders and a collective interest in the well-being of WindsorMeade’s residents.”
The reorganization did not cause any service or care interruptions for residents of WindsorMeade, a senior living community. The company has plans for future health services facilities expansions. Construction is expected to begin next year.
“With the restructuring process now behind us, we will focus on the construction of WindsorMeade’s expanded Health Care Center and continuing to attract new residents to our beautiful community,” Henderson said in a release.
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