Seven Counties Services files for bankruptcy - WDRB 41 Louisville News

Seven Counties Services files for bankruptcy

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LOUISVILLE, Ky. (WDRB) -- Seven Counties Services, the area's mental health treatment agency, has filed for bankruptcy.

Company officials cite pensions as the reason for the move.

The non-profit is projecting an operating loss of more than $2 million for the fiscal year, which ends July 1.

And by 2014, they expect a loss of $8.5 million dollars, wiping out all their cash reserves in 12-18 months.

Seven Counties says measures recently pushed through the legislative session are not helping.

Despite the news, the company intends to continue operating.

Copyright 2013 by WDRB News. All rights reserved.

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