LMI announces reorganization plan
MOUNT VERNON, N.Y. – Landauer Metropolitan Inc. (LMI) will continue to operate businesses in nine states and accept new patients as it works with secured lender Quadrant Management to reorganize, the company announced Oct. 1. LMI hopes to emerge from Chapter 11 bankruptcy protection by the end of this year, according to the news release. It filed for bankruptcy in August, citing reduced revenue related to competitive bidding. Quadrant Management owns several HME suppliers in New Jersey, Pennsylvania and Delaware.