"The decision to file for Chapter 11 protection was made as theresult of several years of significant operating losses and anon-reversible liquidity crisis," says a hospital spokesman, in aprepared statement. "As the hospital was unsuccessful in finding astrategic partner, it [became] necessary to close the institution'sentire operation."

The auction process is being conducted for the ownership, whichbears the name Pascack Valley Hospital, by Cushman & Wakefieldof NJ, East Rutherford, with the latter firm's Jose Cruz, executivemanaging director of the its capital markets group, listed inoffering materials as the contact. A deadline of noon on Jan. 28has been set for bids on the property.

"Interest has been high for both medical and non-medical use,"Cruz tells GlobeSt.com. "We've done a lot of tours. We'll know alot more within a week. It's going to be quick."