Senior Care Subsector Report Chapter 11 Bankruptcy Filings: Trends and Profile (Q1 2019 – Q2 2026)
Senior Living drives bankruptcies in H1 2026 as SNF filings fall to zero.
Gibbins Advisors, a leading healthcare restructuring advisory firm, in collaboration with the National Investment Center for Seniors Housing & Care (“NIC”), prepared this Senior Care subsector report as a deeper dive within its broader healthcare Chapter 11 bankruptcy research. This analysis reviews Senior Care sector Chapter 11 bankruptcy filings from Q1 2019 through Q2 2026 for cases with liabilities of at least $10 million to assess how activity has evolved over time and how bankruptcies break down by size and segment (i.e., Continuing Care Retirement Communities (CCRCs), Skilled Nursing Facilities (SNFs), and Senior Living communities: Independent Living, Assisted Living, and Memory Care).
Key Takeaways:
Trends over time: H1 2026 Filing Activity Was Consistent with Historical Averages
• H1 2026 (January–June 2026) saw seven Senior Care bankruptcy filings (four in Q1, three in Q2) — which falls close to the quarterly average of 3 filings since 2019, but is an uptick on the average ~1.6 quarterly filings in the three quarters through December 2025.
• Since 2023, Senior Care filing activity has moved broadly in line with the wider Healthcare bankruptcy cycle — both series ran near their longer-term quarterly averages in H1 2026.
By Segment: Senior Living Drives H1 2026 Activity; SNF Bankruptcy Filings fall to Zero
• Senior Care has consistently comprised approximately one quarter of all Healthcare Chapter 11 filings with liabilities over $10 million.
• Of Senior Care bankruptcies, Senior Living holds the largest cumulative share (42%) through Q2 2026.
• SNF and Senior Living filings saw year-on-year variability — Senior Living drove six of seven filings in H1 2026 (January–June 2026), while SNFs had none; CCRC filings are trending slightly lower in H1 2026 compared to prior years, with just one filing in this year to date.
By Liability Size: CCRCs tend to be larger cases than SNF and Senior Living operators — though in H1 2026, a Senior Living company was the largest Senior Care filing.
• Consistent with typical segment scale, Senior Living and SNF cases cluster at $10m–$50m in liabilities, versus $100m–$500m for CCRCs.
• H1 2026 broke pattern: the CCRC case fell in the smaller case size bracket (liabilities $10m–$50m), while a Senior Living company was largest, with liabilities exceeding $500m.
For questions, comments or more information, contact Clare Moylan: cmoylan@gibbinsadvisors.com.