Long-term care staffing company files bankruptcy
A staffing company that serves nursing homes and home health agencies, Intrepid U.S.A., filed for Chapter 11 bankruptcy protection.
Intrepid decided to protect itself after its primary lenders, DVI Business Credit Corp. and DVI Financial Services Inc., and their parent corporation, DVI Inc. of Jamison, PA, all filed for bankruptcy.
Intrepid has been managing its finances on a cash receipt basis for the last six months while it searched for new financing.
In October, an Intrepid subsidiary, Intrepid of North Carolina Inc., paid $685,000 to settle a federal lawsuit alleging Medicaid fraud.