Large care home chain faces administration
The owner of the company and its partners are yet to agree on a rescue deal as the deadline for their next interest payment looms.
The crisis comes amid concern over lack of funding across the care home sector as well as spiralling staff costs, and some are worried that the situation could see a repeat of the collapse of Southern Cross in 2011 which put 31,000 people at risk. 100 of their homes were subsequently taken over by Four Seasons.
As well as its residents across 360 homes, Four Seasons has 25,000 employees and hundreds of agency staff.
Former pensions minister Baroness Ros Altmann said: 'It's a deeply, deeply troubling time for everyone who is living in a Four Seasons home. It is really quite shocking that thousands of people's lives and well being are in the balance.'
City power broker Guy Hands, the head of equity firm Terra Firma, bought Four Seasons care home chain in April 2012 for up to £825m.
Latest Businesses for Sale
Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...
This leading highly profitable, UK based manufacturer of exploration, drilling and sampling equipment, supplies to the world minerals/earth sampling markets, the highest quality of earth drilling, boring, core sampling and in-situ ground testing equipment. The company has an enviable reputation for ..
Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...
View More Businesses for Sale >>
Businesses for Sale
Do you want to gain access to the latest businesses for sale as well as all UK administrations, liquidations and all winding-up petitions?
Business Sale Report is your complete solution to finding great aquisition opportunities.
10 Biggest Buyer Mistakes
Fill in your details below to get our FREE guide