Sunrise May Seek Bankruptcy Protection
Sunrise Senior Living, one of the nation's largest providers of senior housing and a major Washington area company, said it may seek bankruptcy protection if it can not strike a new deal with a key group of lenders by the end of this month.
The McLean company is struggling with the legacy of an ambitious growth strategy gone awry and an increasingly bleak economy that has hampered its ability to fill rooms. Its announcement yesterday came as the company posted a loss of $305.6 million for the last three months of 2008 and $439.2 million for the year.
March 2, 2009; 2:41 PM ET
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