Clare Oaks Senior Living in Bartlett emerges from bankruptcy Clare Oaks Senior Living, a 12-year-old continuing care retirement community in Bartlett, has emerged from bankruptcy with a new board of directors and management, as well as retention of its not-for-profit status. Courtesy of Clare Oaks Senior Living
Updated 12/29/2020 3:12 PM
Clare Oaks Senior Living in Bartlett has emerged from bankruptcy proceedings, which earlier this year threatened the finances of the community s residents, equipped with a new board of directors and management firm.
When a proposed settlement to the previously contentious negotiations was first announced in late summer, then-CEO Gigi Walker said she was confident bondholders were abandoning steps that would have threatened residents deposits by selling the community to a third party and making everyone there a renter.