Grace Community, Inc.
Grace Community, Inc. (‘Grace Community’ of the ‘Company’) d/b/a StoneRidge Village is a Pennsylvania-based long-term care facility that provides independent living, assisted living and skilled nursing services.
SSG was retained to sell the Company after it filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
The SSG Group was able to generate 13 bids at the 363 auction, resulting in an increase in the proceeds to the secured creditors of 19% over the platform bid. Moreover, the Company was sold as a going concern and all resident lifecare contracts were assumed.