Late on April 19, 2021, Wilmington, Del.-based non-profit Connections Community Support Programs, Inc. (“CCSP”), which provides psychiatric/behavioral health services, substance use disorder treatment, housing and veterans’ services, intellectual disabilities services and operation support services, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10723). CCSP is seeking to sell its assets as a going concern to one or more potential purchasers. A prepetition marketing process resulted in CCSP entering into a letter of intent for some of the debtor’s operation. CCSP reports $50 million to $100 million in both assets and liabilities and says it has reached an agreement with its prepetition secured lender for the use of cash collateral. A copy of the first day declaration is attached here.
Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact the Debtor’s counsel.
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