cash squeeze in January 1991, Kinder-Care stopped paying interest on its debt. Still faltering under its high debt load, KinderCare filed for Chapter 11 bankruptcy protection on November 10, 1992. The company continued operating, although, according to a 1988 Forbes article, less than half of Kinder-Care's sales and profits for the year were expected to come from its child care centers. In January 1993, in a move that helped their balance sheet, KinderCare sold off Sylvan Learning Centers for $8 million. Post-2000 financial history KinderCare was acquired in 2005 by the Knowledge Learning Corporation (KLC) division of Knowledge Universe. By coincidence, KU was privately founded and owned by Michael Milken since 1996, five years after his prison release. The deal, valued at over US$1 billion, made KLC the nation's largest private child care and education provider. In 2012, company revenues were $1.45 billion, down from $1.6 billion in 2010. In July 2015, Partners Group, a Swiss enterprise, bought Knowledge Universe. Knowledge Universe renamed itself as KinderCare Education in January 2016. The parent company, KinderCare Education, also operates Knowledge Beginnings, Children's Creative Learning Centers (CCLC), and Champions. COVID-19 response During the 2020 coronavirus pandemic, KinderCare temporarily shut down 1100 of their approximately 1500 daycare centers, leaving the centers that have large proportions of first responders and healthcare workers. IPO Filing In October 2021, The Oregonian reported that Kindercare confidentially filed for an IPO. The company then postponed citing regulatory delays. Accreditation The National Association for the Education of Young Children (NAEYC) and other associations have accredited over 700 KLC centers. Quality of care and education Research in Maryland found that children who had attended KinderCare were more likely to be ready for school. Criticism and legal challenges The company has been criticized as being part of the "McDonaldization of society". George Ritzer criticizes the company for "hir[ing] short-term employees with little or no experience in child care". The company has been the subject of legal challenges. In Roberts v. KinderCare Learning Centers, Inc. the judgment was found for KinderCare. In Jesi Stuthard and ADA v. Kindercare Learning Centers, Inc. judgment was against KinderCare. See also List of companies based in Oregon References External links KinderCare Learning Centers – Official Site Child care companies Education companies established in 1969 Privately held companies based in Oregon Early childhood education Early childhood education in the United States 1969 establishments in Alabama