A Houston-based non-for-profit luxury retirement facility filed for Chapter 11 bankruptcy protection Monday in the Northern District of Texas.
Buckingham Senior Living Community cited between 1,000 and 5,000 creditors who are owed between $100 million and $500 million, according to court documents.
Documents show that the retirement facility has 30 residents who are unsecured creditors who are owed between $851,105 and $1.89 million.
Buckingham has hired McDermott, Will & Schulte as its lead legal advisor. Partner Marcus Alan Helt of the firm’s Dallas office filed the first day documents in the case.
The nonprofit also hired Implex Advisors as its primary financial advisor and Raymond James as its investment banker.
In its first-day filings, Buckingham reported that it has received $4 million in debtor-in-possession financing from UMB Bank.
The case has been assigned to Judge Michelle Larson.
The case is In Re Buckingham Senior Living Community, NDTX, No. 25-80595.