KinderCare Learning Centers is an American operator of for-profit child care and early childhood education facilities founded in 1969 and currently owned by KinderCare Education based in Portland, Oregon. The company provides educational programs for children from six weeks to 12 years old. KinderCare is the third-largest privately held company headquartered in Oregon. In 39 states and the District of Columbia, some 200,000 children are enrolled in more than 1,600 early childhood education community centers, over 600 before-and-after school programs, and over 100 employer-sponsored centers. Company history Founding Perry Mendel, a real estate developer, founded KinderCare Nursery Schools after speculating that increasing numbers of women entering the workforce would increase demand for preschool child care. The first facility was opened on July 14, 1969 on Sunshine Drive in Montgomery, Alabama accommodating 70 children. A second facility was opened in 1970, and the company changed its name to Kinder-Care Learning Centers, Inc. By 1971, 19 centers were in operation and the first infant care was offered. The firm went public in 1972; by 1974, the company had 60 centers located in 17 states and over 500 employees nationwide. The company's first major acquisition came in 1977, when it purchased the 15 facilities of Playcare. In 1979, it acquired Mini-Skools, Living and Learning, and American Pre-Schools. In 1985, the company opened its 1,000th center. In 1987, Kinder-Care stated it was expanding at the rate of one new center every three days. It also acquired Sylvan Learning Centers, a provider of supplemental instruction and tutoring. In 1992, the company updated its bell tower logo and began to render the KinderCare name in camel case. Bankruptcy In the 1980s, Kinder-Care, like several public companies of the time, attempted a conglomeration business strategy to raise revenue, as its investors forced it to purchase completely unrelated companies such as American Savings for $188 million. They also purchased photo studios, shoe stores and a foreign fertilizer manufacturer. Chief Executive Grassgreen, informed by 'junk bond king' Michael Milken from the firm of Drexel Burnham Lambert, led the company on an ill-conceived diversification plan in the late 1980s. As a result, the company's debt load increased from $10 million to about $620 million in 1988. The company found itself in deep financial trouble after Black Monday crash of 1987. During this period, Tull Gearreald, an investment banker, took command of the company as president and CEO. Caught in a