Gingrich’s health consulting group goes under | Wall Street Beat

The Center for Health Transformation, a health care think tank launched by GOP presidential hopeful Newt Gingrich, filed for Chapter 7 bankruptcy this week, listing liabilities of between $1 million and $10 million that it says it can’t repay.

The organization’s assets, which it listed in court filings at between $50,000 and $100,000, will be liquidated and the business may subsequently close.

Speculators say the organization’s downfall may mean the end of the former House Speaker’s already struggling bid for the White House. Gingrich hasn’t won a primary since taking his home state of Georgia early last month.

Gingrich said last week that he plans tocut ⅓ of his campaign staff and significantly scale back his campaigning, The Hill reported.

"This ends his campaign. He’ll now be completely on the defensive about this," Emory University political science professor Merle Black told the Atlanta Business Journal.

Gingrich stepped down from a leadership role within the Atlanta, Ga.-based group, also known as The Gingrich Group LLC, when he launched his 2012 presidential campaign.

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