She Paid $1 Million to Join a Senior Facility. Its Bankruptcy Wiped Her Out.

Families have lost at least $190 million in 16 bankruptcies at continuing-care retirement communities.

Since the Covid-19 outbreak in March 2020, at least 16 of the roughly 2,000 continuing-care retirement communities nationwide have filed for Chapter 11, according to a Wall Street Journal review of court filings and Gibbins Advisors, a healthcare restructuring advisory firm.