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The 160-year-old institution is hoping the bankruptcy filing will help in the sale of its healthcare services outside of Manhattan and in the closing of its Greenwich Village inpatient services.

Last week, the hospital's board voted to shut down inpatient services after a six month effort to save the institution, which is $700 million in debt.

Lenders GE Capital and TD Bank have agreed to loan Saint Vincent's $85 million to pay for goods and services during the Chapter 11 cases.

Meanwhile, hundreds of the hospital's employees attended the first of two consecutive job fairs on Wednesday.

The events are being held for the 3,500 employees who are losing their jobs as a result of the closure.

"It's a very harsh reminder of what's going on here. The reality of what's going on. People are crying on line saying goodbyes," said one St. Vincent's Hospital worker.

"Unfortunately we are all going in different directions, doctors who have worked together for a very long time, and now we're being dispersed," said another.

"A lot of turnout today for hospitals in the local area, in Jersey, Brooklyn, Manhattan, Staten Island. They're very welcoming," said a third.

Another job fair will be held at the hospital Thursday.