What happened to the residents of Harborside Retirement Community?

Harborside Retirement Community filed for bankruptcy in 2023, forcing many residents to move out and causing families to lose their entrance fees.

How many retirement communities have filed for bankruptcy recently?

At least 15 continuing care retirement communities have filed for bankruptcy in the last six years.

What advice is given to seniors regarding retirement communities like Harborside?

Seniors are advised to thoroughly investigate how their entrance fees are safeguarded to mitigate financial risk.

Home / Business and Economy / Retirement Dream Shattered: Fees Vanish in Bankruptcy

Retirement Dream Shattered: Fees Vanish in Bankruptcy

9 Dec, 2025

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Summary

Retirement community bankruptcy left seniors without promised care.
Heirs lost substantial entrance fees, facing financial ruin.
Separated couples and immense costs marked the facility's failure.

Retirement Dream Shattered: Fees Vanish in Bankruptcy

A decade-old dream of secure retirement has dissolved for many residents of Harborside Retirement Community, which filed for bankruptcy in 2023.

This continuing care retirement community, known for its substantial entrance fees and promises of lifelong care, has left families like Barbara Cooper's in financial distress. Her parents, who paid $946,000 for a combined living arrangement, now face the loss of 80% of their entrance fee.