WILMINGTON, Del. — American Eagle Delaware Holding Co. LLC and its subsidiaries, collectively known as Eagle Senior Living, have completed a comprehensive financial reorganization and exited the Chapter 11 bankruptcy process.
The company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation, according to the Wilmington-based company.
As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby Atlantis Senior Living LLC acquired the Vista Lake community. All other Eagle Senior Living communities continue to operate uninterrupted.
“Through this process, we have secured a bolstered financial structure — allowing our communities to be the place for residents to do more of what they love for years to come,” says Todd Topliff, president of American Eagle Delaware Holding Company LLC.
Greenbrier Senior Living continues to manage all of the communities remaining with Eagle Senior Living.
Polsinelli represented Eagle as legal counsel, and FTI Consulting as restructuring and financial advisor.
Established in 2018, Eagle Senior Living owns 14 communities across seven states.