RICHMOND, Va. — With tens of millions of dollars in debt and under pressure by one of its lenders, Health Diagnostic Laboratory filed for Chapter 11 bankruptcy late Sunday. The initial filings indicate that HDL has more than 200 creditors, 30 of which were named in the document. The company lists assets worth between $100 and $500 million, and liabilities of the same range, bankruptcy court documents show.
Its largest listed creditor is the U.S. Department of Justice, which HDL owes at least $49.5 million after it settled a federal investigation earlier this year. The other listed creditors included several laboratory companies, the Washington Redskins and former HDL chief executive and co-founder Tonya Mallory.
The Chapter 11 filing, which would aim to allow the company to operate while it works to restructure and try to find a plan to work with creditors, was in part prompted by a notice of default from BB&T sending HDL a notice of default on a credit agreement, court records show.
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