KidsPeace files for Chapter 11 bankruptcy protection
CEO William Isemann: 'This move is aimed at strengthening KidsPeace'
KidsPeace, a private charity that serves children with behavioral and mental health needs, filed for Chapter 11 bankruptcy protection on Tuesday.
The goal, said CEO William Isemann, is the final step in an ongoing effort to restructure the organization's long-term debt and pension obligations.
"This move is aimed at strengthening KidsPeace so that we can more readily fulfill our mission in the communities that we serve," Isemann said in a statement. "We anticipate that this reorganization will move very quickly."
KidsPeace remains in business, and its day-to-day operations will continue uninterrupted, Isemann said.
"We will continue to accept referrals and admissions connected to all of our services, and the quality of our care will not be affected in any way," Isemann said. "The children in our care have always come first, and they always will."
KidsPeace was founded in 1882. It has locations in 10 states and the District of Columbia, including Pennsylvania facilities in Berks, Bucks, Lehigh, Northampton, Monroe and Schuylkill counties.
Copyright 2013 WFMZ. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.