Large care home chain faces administration

Wed, 06 Dec 2017

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.


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Businesses for Sale


Printers/ Stationers - Andover, Hants

Asking Price: 
Turnover:  £640,000
Location: 

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...


Hotel Accommodation - Folkestone

Asking Price: 
Turnover:  £500,000
Location: South East

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...


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


View More Businesses for Sale >>