WSJ: Kirkland & Ellis, A&M Advise Physiotherapy Associates in Chapter 11
The Wall Street Journal reported Kirkland & Ellis is representing Physiotherapy Associates in Chapter 11, and the company has tapped restructuring firm Alvarez & Marsal and Rothschild for financial advice.
The Journal reported Physiotherapy Associates filed for Chapter 11 bankruptcy protection after creditors accepted a prepackaged debt-restructuring plan for the rehabilitation services provider.
The private-equity-backed company, based in the Philadelphia suburb of Exton, PA, has about 575 outpatient clinics in 29 states, and filed for Chapter 11 protection in U.S. Bankruptcy Court in Wilmington, Delaware, along with some 50 affiliates, the Journal said further.
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