NRMC board announces plan to file for bankruptcyPublished 4:26pm Tuesday, February 4, 2014
NATCHEZ — Natchez Regional Medical Center’s board of trustees announced Tuesday plans to file for Chapter 9 bankruptcy.
The decision comes after a careful review of the hospital’s finances, which indicated the hospital’s financial liabilities exceed that of its assets by approximately $3 million, Chief Financial Officer Charles Mock said.
Decreases in revenue, including reimbursements from the federal government, are a significant factor in the hospital’s financial standing, Chief Executive Officer Donny Rentfro said.
The attorney for the hospital’s board of trustees, Walter Brown, said he does not believe the bankruptcy move will have an adverse effect on the ongoing effort to sell the hospital.
“We are still anticipating we are going to have a sale, that we will make enough from the sale to pay all the creditors, that all our employees will have continued employment and that the (bond) debt held by the county will be paid off,” he said.
The hospital previously filed for bankruptcy in February 2009, exiting the process in December of the same year.