A California hospital considering filing for bankruptcy has asked local and state leaders for $13 million in "bridge funding" to give it "sufficient time to implement a restructuring plan," BenitoLink reported Dec. 12.
Hollister, Calif.-based Hazel Hawkins Memorial Hospital is asking the San Benito County Board of Supervisors for $10 million and the state treasurer's office for $3 million in loans, according to the report.
Hazel Hawkins stated the restructuring plan would "stabilize operations into the future through new affiliations or additional financing," according to the report.
The hospital has stated it was "pursuing multiple angles" to resolve its financial troubles after its board of directors on Nov. 4 passed a resolution declaring a fiscal emergency. The declaration granted administrators the authority to file Chapter 9 bankruptcy if and when necessary. The hospital has until Dec. 31 to file a bankruptcy petition.