Southern Cross and landlords agree

Posted on February 1st, by editor in Caring Times. No Comments

A committee to be formed to restructure the company

At a meeting on the 15th June between Southern Cross management and their landlords an agreement was reached to form a committee to restructure the company over the next four months with the objective of avoiding insolvency. The meeting was also attended by Barclays and Lloyds who are owed £50m and the government which is opwed £20m in tax. The landlords expressed ‘full confidence’ in the current management. Both parties agreed the company would operate 400 homes, the remaining 352 being taken over by other operators such as Four Seasons (who own 85 Southern Cross run homes) and Bondcare.

Comments are closed.

Latest blog posts

New liberty rules – a breath of fresh air?

By Caring Times editor GEOFF HODGSON

Good news that the Government intends to replace the Deprivation of Liberty Safeguards (DoLS) with a system to be called...

Now where did I put those spectacles?

By Caring Times editor GEOFF HODGSON

Last week, guest blogger John Burton touched on the management of dentures in care homes and used an extended toothy...

Missing teeth

By guest blogger JOHN BURTON

I know it’s an obsessional bad habit, but I watch the CQC Public Board Meetings every month. I believe that...