A large Dallas-based operator of senior care, assisted living and hospice facilities in Texas has filed for chapter 11 protection, the San Antonio Express-News reported. Senior Care Centers attributed its financial troubles to declining reimbursement rates, shrinking occupancies, rising rents and other challenges facing the industry. Each of its 120 affiliated companies also filed for bankruptcy protection. Senior Care Centers operates 97 senior living facilities, nine assisted living facilities and six hospice facilities in Texas and Louisiana. It has about 13,000 beds and 11,300 employees. Senior Care hasn’t made any determination yet regarding which facilities it will seek to transfer to new operators, spokesman Tom Becker said. The company lost about $94 million on $910.4 million in revenue last year. It generated $697 million in revenue in the first 10 months of this year but didn’t report its bottom-line results.
