If Far Rockaway, N.Y.-based Peninsula Hospital does not receive a cash infusion in the coming weeks, it will not be able to meet payroll obligations after Dec. 26, according to a New York Daily News report.
Peninsula Hospital still must have loan terms and creditor compensation approved in bankruptcy court before it can receive money, according to the report.
In October, Peninsula Hospital laid off more than 50 employees. Peninsula Hospital has been battling debt problems, Chapter 11 bankruptcy and near-closure this year, but Brooklyn-based Revival Home Health Care announced in September it would operate the hospital. The transaction is still pending as the hospital continues its deliberations in bankruptcy court.
Peninsula Hospital still must have loan terms and creditor compensation approved in bankruptcy court before it can receive money, according to the report.
In October, Peninsula Hospital laid off more than 50 employees. Peninsula Hospital has been battling debt problems, Chapter 11 bankruptcy and near-closure this year, but Brooklyn-based Revival Home Health Care announced in September it would operate the hospital. The transaction is still pending as the hospital continues its deliberations in bankruptcy court.
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New York's Peninsula Hospital May Be Purchased by Revival Home Health Care