GLASGOW – Glenview Health Care Facility Inc., which has been in existence for 30 years in Glasgow, filed a petition last week for a reorganization bankruptcy.
Co-owners Kay Bush and Lisa Howlett, incorporated the business under that name in 1989, the same year it purchased the property with the first building that had been Glenview Manor Inc. The one-story facility of 13,725 square feet, according to the Barren County property valuation administrator website, at 1002 Glenview Drive has also come to be known as Glenview Health & Rehab.
In 2017, another building with 25,363 square feet of space was constructed.
According to a March 19, 2017, Glasgow Daily Times report on the expansion, it included 18 new rooms on two floors. Eight of the rooms are private, and 10 of them are semiprivate and house two people each. Glenview also added a 1,200 square-foot dining room with a state-of-the-art kitchen, four senior independent living apartments and an enclosed courtyard.
“I'm absolutely over-the-top, super-excited that I finally got to add on to this nursing home,” said Kay Bush, co-owner of Glenview Health and Rehab, at that time. “It's been a life-long dream of mine to do that because I knew we always had a great staff. We're very family oriented. What we were missing was an updated building.”
The voluntary petition filed Aug. 1 in Bowling Green with U.S. District Court, Western District of Kentucky, under Chapter 11 of the U.S. Bankruptcy Code states the estimated number of creditors is in the 50-99 range, and the $1 million to $10 million range is selected for both estimated assets and estimated liabilities, but funds are anticipated to be available for distribution to unsecured creditors.
Chapter 11 cases provide for reorganization, usually for a corporation or partnership, where the debtor proposes a plan of reorganization to keep its business alive and pay creditors over time, according to the U.S. Courts website.
Bush and Howlett provided the following statement to the Glasgow Daily Times on Tuesday evening: "After careful deliberation, the owners of Glenview Health Care Facility decided to file a Chapter 11 reorganization with one goal in mind: to allow Glenview to continue providing first-class care to our residents. Taking this step was necessitated by previous delays in Medicaid payments and issues created by our recent remodeling and expansion. We expect that this reorganization will allow Glenview to reorganize its debts and come out stronger than ever so that we may continue to serve our patients with the same quality of care we have provided for the past 30 years."
The more detailed listing in the bankruptcy petition of the 20 largest unsecured creditors includes at least one utility, the Glasgow Daily Times, attorneys, and food, medical supply and pharmaceutical vendors; most of these debts are between about $4,000 and $28,000, but one pharmacy is owed nearly $437,000. The two largest debts owed, which are at least partially secured, are to Franklin Bank & Trust, $500,000, and Monticello Bank, $2 million, all according to the petition.
A status conference in the case has been set for Aug. 22, and a meeting with creditors has been scheduled for Sept. 6. During the status conference, matters such as a deadline for filing a repayment plan and other documents are to be addressed, as well as any “special issues,” including the possible appointment of a patient care ombudsman, according to the order scheduling the conference.
New additions at Glenview Health and Rehab