Tarrant County Senior Living Center, Inc. operates The Stayton at Museum Way, a continuing care retirement community (CCRC) in Fort Worth, Texas, using a lifecare entrance-fee model. This represents the company's second Chapter 11 filing in five years. Following a 2019 restructuring that closed in March 2020, COVID-era operating stress and missed debt service payments in December 2022 forced a second restructuring. The prepackaged plan, filed October 1, 2024 and confirmed November 12, 2024, was backed by new sponsor Buckner Retirement Services (which became sole corporate member on June 1, 2024) with $15 million in incremental liquidity ($5M equity + $10M subordinated note). The plan achieved a 28% debt reduction, converting $112.3 million in Series 2020 Bonds into $81 million in new Series 2024 Bonds at 5.75% fixed interest maturing December 1, 2054. Bondholders voted overwhelmingly in favor (94.69% by count, 99.87% by dollar amount). The plan became effective on December 23, 2024, and the final decree was entered January 22, 2025, closing the case.
