Colonnades Facing Bankruptcy

The parent company of The Colonnades is facing bankruptcy, Reuters reports. Sunrise Senior Living is looking to reorganize, not go out of business, though they’re going to need some real accommodation from their creditors, since they’ve only got enough money to make it through the end of the month. They’ve got something like half a billion dollars in debt coming due in the next couple of years. The Colonnades is on Barracks Road, on the northern edge of town. I was visiting somebody there a few weeks ago, and it certainly seemed like one of the nicer senior living facilities in the area. Though it’s not clear how they’ll be affected at this point, this isn’t likely to be good for the place. Thanks to FM for the tip.

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