Lake Shore Open To Offers For Purchase

October 30, 2013 Updated Oct 30, 2013 at 5:35 PM EDT

By Hilary Lane

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October 30, 2013 Updated Oct 30, 2013 at 5:35 PM EDT

IRVING, N.Y. (WKBW) - Coming on the heels of a six hour meeting at SUNY Fredonia last night, Lake Shore Health Care Center board members announcing today they are continuing to look for a buyer for the facility.

Silver Creek businessman Tony Borrello had come forward offering between $11 and $15 million for the facility, but today, the board is calling his offer "insufficient"

The hospital is closing its doors because of a projected budget gap of $7 million in 2013, eliminating over 400 jobs.

Officials saying today there are quite a few other interested buyers, including operators of long-term and home-health services