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

Plumbers Merchant & Large Bathroom Showroom
Colchester, Essex, South East, UK

With a good level of net profit available and a fantastic reputation, this is an ideal opportunity for an entrepreneur with industry expertise, or a competitor looking to grow through acquisition, to own a successful business with further growth pote...

Asking Price: Offers Invited
Turnover: £970,757

LEASEHOLD


Driving School
Silverstone, Northamptonshire, UK Wide

The long-standing business offers a wide range of services including prestigious, advanced rally driving lessons as well as entertaining rally days out, rally courses, junior rally driving experiences and professional rally driver training based in t...

Asking Price: £350,000
Turnover: £300,000

LEASEHOLD


Manufacturing Company
West Midlands, UK

The business for sale is an established company specialising in the design and manufacture of modular ballast support systems/ access solutions for the HVAC and Renewable energy industries. The flat roof framework system is fully adjustable and can b...

Asking Price: Offers Invited
Turnover: £614,931

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

 
18
 
Feb
 

Subprime lender Amigo launches sale process | BUSINESS SALE

UK subprime lender Amigo has announced that it is in talks w...

 
14
 
Feb
 

Leicester printing firm enters administration | ADMINISTRATION

Long-established Leicester printing firm Taylor Bloxham Grou...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

 
18
 
Feb
 

Subprime lender Amigo launches sale process | BUSINESS SALE

UK subprime lender Amigo has announced that it is in talks w...

 
14
 
Feb
 

Leicester printing firm enters administration | ADMINISTRATION

Long-established Leicester printing firm Taylor Bloxham Grou...

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