Let’s Talk Interactive (LTI) filed for bankruptcy after 21 years in business.
The North Carolina-based company’s secured and unsecured debt, excluding debts owed to insiders or affiliates, is less than $7.5 million.
Because of this, LTI was allowed to file under Subchapter Five, which doesn’t require it to receive creditors’ approval for its repayment plan.
LTI offers customizable telehealth solutions that offer healthcare and mental healthcare professionals the ability to provide services without any accessibility issues.
The company has partnered with hospitals, assisted living facilities, prisons, rural community centers, and more, to install telehealth kiosk machines.
The kiosks help facilitate virtual therapy, video conferences, and more.
The company estimated its liabilities totaled between $1million and $10 million, with between one and 49 creditors, reports The US Sun.
According to the Charlotte Business Journal, the company’s founder and chief executive officer, Art Cooksey, “is listed as a creditor in the bankruptcy filing with an unsecured claim of $385,000 for a promissory note.” Read more.
