New Chapter 11 Filing – Connections Community Support Programs, Inc.

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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.

Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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