Vision Care Holdings Files for Chapter 11 Bankruptcy Protection

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LAKE WORTH, Fla.—Vision Care Holdings, which sold its Eyeglass World retail chain to National Vision a year ago while retaining its laser-surgery business, filed for Chapter 11 bankruptcy protection on Jan. 14.

The company’s bankruptcy petition, filed in the Florida Southern Bankruptcy Court in Miami, lists assets of less than $10 million, and liabilities of between $50 million and $100 million. Shown on the petition as majority owner of Vision Care Holdings is Summit Ventures of Boston.

Founded in 2003, Vision Care Holdings built everyday-low-price retailer Eyeglass World into a chain of 64 stores by the end of 2008. In January 2009, National Vision acquired those stores, which continue to operate under the Eyeglass World name.

After selling Eyeglass World, Vision Care Holdings continued to operate a group of laser surgery centers under the name Lasik Vision Institute. It is unclear how many of those centers remained open at the time of the Chapter 11 filing.