Genesis Healthcare Inc. — an operator of skilled nursing and assisted living facilities — and its subsidiaries have filed for Chapter 11 bankruptcy.

Genesis, which has seen ownership changes for decades, said the restructuring would help it eliminate legacy liabilities from dozens of facilities it no longer operates.

The company filed for relief Wednesday under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division. In its filing with the court, Genesis said it owes between $1 billion and $10 billion in debts.