Cross Country Healthcare customer files Chapter 11; expects $20M bad debt charge in Q2 2024

CROSS COUNTRY HEALTHCARE INC

Customer filed Chapter 11 bankruptcy on May 6, 2024.
Cross Country owed approximately $20 million net of reserves and subcontractor receivables.
Company expects to record a bad debt charge in Q2 2024; amount not yet determined.
Customer had been making timely payments under a payment plan prior to filing.

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