Fri, 30 Aug 2019 | ADMINISTRATION
The company behind the Caerleon House care home in Newport, Wales has fallen into administration after citing a “cashflow situation” as the reason for its downfall.
Gwent Nursing Homes Limited was forced to call in professional advisory firm Quantuma to handle the administration process, with partners Graham Randall, Chris Newell and Paul Zalkin appointed as joint administrators.
At present, the administration has not impacted staff, and a statement from the administrators noted that no redundancies were planned.
Newell commented on the administration, saying: “Our immediate priorities are to ensure the business is maintained as a going concern and to seek a purchaser who has the financial ability to take the business forward on a more secure financial footing.”
Adding to this, Randall said: “Our immediate priority has been to start stabilising the business.
“In the first 36 hours we met staff, residents’ families, Aneurin Bevan University Health Board (ABUHB) and Newport City Council to ensure the 47 residents are receiving a high level of care and all statutory and regulatory requirements are being met.
“We have also engaged with Care Inspectorate Wales (CIW) and it is fair to say that there is relief amongst all stakeholders that we have stepped in to stabilise the business and secure its immediate future.”
Earlier in the month, ABUHB, Newport Council and the CIW provided managerial and financial support to Caerleon House as a result of the “cashflow situation”. However, now due to the administration, Gwent Nursing Homes Ltd is being marketed by Christie & Co. who are actively seeking a buyer.
Extensively developed platform, generating a consistent stream of revenue from affiliate agreement commissions and contracted advertising packages. The company compares trading platforms operating in forex, stocks, crypto and commodities. Fully reloc...
RELOCATABLE
Specialist engineers providing a range of energy management services including the supply & maintenance of electricity billing meters energy reports & cost budgeting. Contracted to provide metering services on behalf of a major electricity distributi...
The business in run and managed by our client with the help of one full time office member of staff along with 3 full time engineers. Over the years the business expanded to include the supply and installation of pumps and pressurised systems, PH cor...
LEASEHOLD
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
|
06
|
|
Aug
|
Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION
One of the UK’s leading ski tour operators Harris Holi...
|
05
|
|
Aug
|
Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE
Pizza Express has announced that it is seeking a buyer for i...
Sign up to receive our acquisition alert emails to get your FREE guide
|
21
|
|
May
|
South London-based law firm acquired in pre-pack sale | BUSINESS SALE
Croydon-based McMillan Williams Solicitors (MSW) has been so...
|
14
|
|
Apr
|
Dorset catering business enters administration | ADMINISTRATION
Dorset-based event catering company Beales Gourmet has gone ...
|
15
|
|
Jul
|
Specialist engineering firm forced to appoint administrators | ADMINISTRATION
Rail contracting company Aspin Group Limited has been forced...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources