Beverly Enterprises said its Beverly Advisers subsidiary...

Beverly Enterprises said its Beverly Advisers subsidiary agreed to end its management advisory agreement with Beverly Investment Properties “on terms and at a date that will be mutually determined by the two parties.” Pasadena-based Beverly Enterprises also noted that it will continue to operate the health-care facilities that it leases from BIP and that it is in compliance with all of its lease obligations on those facilities. Earlier this week, BIP said it was negotiating a new line of credit agreement but might be forced into technical default on $116 million in debt that expires Monday.