Lake Shore Health Center
IRVING – A north county hospital that has been experiencing financial problems the past year has filed for bankruptcy.
According to a published report, TLC Health Network filed for bankruptcy on Monday in the hopes that it would help to keep the doors open at Lake Shore Health Center.
The TLC board of directors announced in a press release that it filed Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court as the next step toward restructuring operations. Chapter 11 would allow TLC to propose a reorganization plan that would enable it to address debt issues while seeking new sources of income and sustainability.
Earlier this year, it was reported that Lakeshore Hospital officials were going to close the facility in early 2014 due to financial difficulties. Officials believe that by filing for Chapter 11, they can get it out debt, which would then allow the hospital to remain open.
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