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American Addiction Centers Files for Bankruptcy in Delaware

  • AAC Holdings said it has $62.5 million of initial financing
  • Company is seeking to recapitalize, emerge in 125 days
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AAC Holdings Inc., the publicly traded parent of American Addiction Centers, filed for Chapter 11 bankruptcy protection.

The Brentwood, Tennessee-based company listed debt of $517.4 million and assets of $449.3 million in its filing in U.S. Bankruptcy Court in Delaware. The company said in a statement on its website that it expects to emerge from bankruptcy in 125 days after executing on a recapitalization plan that will slash its debt.