Health and social care - case study
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Health and social care - case study
Trading administration and sale of 44 care homes, preserving continuity of care for residents and continuity of employment for staff
- Sector - Care
- Group annual turnover - £19.3m
- Number of employees – approx. 2,500
Situation
The landlord of the care homes had not received rent payments and was seeking a resolution including payment of due rents and a transfer of the homes to other operators (s).
Approach
We were appointed administrators of the 11 companies that owned the care homes and through working closely with all stakeholders, including the landlord (a secured creditor), the regulators of the care homes, and the incumbent operator we ensured a smooth transition to new operators.
We traded the care homes for a period to allow the interested parties to confirm their interest in acquiring the businesses as a going concern.
Impact
The care homes were sold as a going concern (with the exception of one that was closed due to refurbishment). Continuity of care was ensured for approximately 2,000 residents and continuity of employment for approximately 2,500 staff.
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