Large care home chain faces administration

Wed, 06 Dec 2017 | ADMINISTRATION

The care home chain Four Seasons Health Care, which houses around 17,000 vulnerable residents, teeters on the brink as backers say it could collapse into administration within the next week unless a £26m payment is made.

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.


Share this article



Latest Businesses for Sale

Recruitment Agency (Fast Sale)
North West, UK

Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...

Asking Price: Offers Invited
Turnover: £2,400,000

LEASEHOLD


Commercial Contractor (Fast Sale)
Midlands, UK Wide

Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.

Asking Price: Offers Invited
Turnover: £3,400,000

Hospitality Industry Recruitment Specialist
UK Wide

Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....

Asking Price: Offers Invited
Turnover: £3,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources