Erickson Retirement Communities LLC emerged from Chapter 11 bankruptcy protection last Friday. According to court reports from a Texas bankruptcy court, the company will be sold to Redwood Capital Investments for $365 million. 

The company currently runs 19 retirement communities in the United States, and it filed for bankruptcy protection in Texas last October. The court records showed that the company was forced into bankruptcy because of the recession and losses in the housing market. 

If your company has considered filing for Chapter 11 Bankruptcy, contact the Austin bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.