Reports: Gingrich's Think Tank Files for Bankruptcy

Matt Vasilogambros

The Center for Health Transformation, Newt Gingrich’s health care think tank, has filed for Chapter 7 bankruptcy, the Atlanta Business Chronicle reports.

According to a filing, the organization plans to liquidate its assets across offices in Washington, Atlanta, and St. Louis. Its liabilities are estimated at $1 million to $10 million, the Chronicle reports.

Through the center, Gingrich famously provided advice to mortgage-lending giant Freddie Mac, for which the former House speaker received much criticism throughout the Republican presidential race.

“I just think anytime a company goes bankrupt, it is sad," Gingrich said while campaigning in Magnolia, Del. He then took a shot at his rival Mitt Romney, who drew heavy criticism earlier this year for saying, "I like being able to fire people."

"Unlike some people, I am never happy firing people and I am never happy when people lose their job," Gingrich said.

Lindsey Boerma contributed