Owner of Loveland assisted-living center files for bankruptcy
DENVER — The owner of Aspen House Assisted Living and Memory Care in Loveland filed for Chapter 11 bankruptcy reorganization on Tuesday.
MRSC CO Aspen House LLC, owner of the two-building, 80-bed care center at 2212 E. 11th St. in Loveland that was built in 2010 and 2015, filed the bankruptcy petition in U.S. Bankruptcy Court for the District of Colorado.
A case filed under Chapter 11 of the U.S. Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy, in which the debtor usually continues to operate as a business, remains in possession of its property and assets, has the powers and duties of a trustee, and may, with court approval, borrow new money.
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The company listed between one and 49 creditors, assets worth between $10 million and $50 million, and estimated liabilities between $1 million and $10 million.
Listed among the company’s debts was $85,000 to the John Phillip Becker Revocable Living Trust; $30,000 owed to the Jeff and Amy Squires Family Trust in Star, Idaho; $25,000 to Harish Sharma, representing the Mr. Harris 2014 Living Trust in Hayward, California; $25,000 to the Family Trust of Kenneth M. and Katherine T. Carvalho in Boulder Creek, California; and $20,000 to the Elmer and Barbara Whittaker Intervivios Trust in Arvada.
Ashley Gonzales, executive director of the care center, referred questions to representatives of MRSC CO Aspen House LLC, which had not returned calls seeking comment before BizWest’s afternoon deadline.
The case is 24-15323-JGR, filed Sept. 10, 2024 in U.S. Bankruptcy Court for the District of Colorado.
