Center for Autism and Related Disorders files for bankruptcy

The Center for Autism and Related Disorders has entered an asset purchase agreement with Pantogran LLC, led by Dr. Doreen Granpeesheh, the founder and former CEO of CARD, according to a June 12 news release shared with Becker's.

According to the report, Pantogran will acquire most of CARD's assets through a court-supervised auction process, acting as the "stalking horse bidder." The transaction is expected to be completed within 60 days. 

To facilitate the process, CARD has filed for a court-supervised restructuring under Chapter 11 of the U.S. Bankruptcy Code. The organization has received approximately $18 million in new financing and plans to support its operations, providing care, and work with suppliers as normal throughout the process.

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