An outpatient rehabilitation-services provider purchased by a private-equity firm last year is preparing to file for chapter 11 bankruptcy protection in the next several weeks, as it struggles with accounting concerns and a high debt load, Dow Jones Daily Bankruptcy Review reported today. Physiotherapy Associates, which carries about $325 million in debt, will begin soliciting votes from creditors on a reorganization plan in early October. The company aims to file a pre-packaged bankruptcy plan likely around late October or early November.
