In 2013, a company called Chiro One Wellness Centers LLC was growing at an incredible rate in Chicago. This year, the company has only narrowly avoided bankruptcy by having an auction for most of its assets in the face of around $5 million of debt. What happened to cause this drastic turn of events?
As late in 2013 as December, Chiro One had 86 different chiropractic offices. They were spread out between Illinois, Kentucky and Texas. The company provided many support services for those offices, handling things like billing and finding real estate. Growth was incredible over a five-year span, to the tune of 382 percent. They did about $55 million for the year of 2012 when looking at revenue.