ABILENE, Texas -

Sears Methodist Retirement Systems have voluntarily filed for Chapter 11 bankruptcy.

According to a statement released by the company, although they have filed for bankruptcy, nothing will change and all centers will remain open.

The decision to file bankruptcy was made to reduce debt, restructure their financial dealings and better serve their patients.

Sears Methodist offers retirement housing for about 1,500 seniors in all 11 locations across Texas.