A senior-living company filed for bankruptcy this week after it exhausted an emergency loan, the latest to falter because of Covid-19.
Nashville Senior Care LLC’s plight illustrates the pressures bearing down on the senior-living sector. Higher staff and supply costs on top of tepid demand for such facilities have caused defaults to outpace the rest of the municipal bond market this year. About 8% of the $43 billion in outstanding senior-living bonds is in default, compared with less than 1% of the total municipal bond market, according to data compiled by Bloomberg.
At Nashville Senior Care, the pandemic ...
