Standstill agreement buys more time for Four Seasons

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

As this issue of Caring Times went to press, major provider Four Seasons Health Care said negotiations to restructure the company’s £1.5bn debt burden were continuing.

A report carried by Financial Times on-line service said the company had agreed a standstill with its lenders after failing to make a £1.5bn debt repayment due on September 1st. To last for eight weeks, the standstill agreement will stop creditios from foreclosing and obliging Four seasons to go into administration.


Latest blog posts

A weary sense of deja vu

By Caring Times editor GEOFF HODGSON

So we are to be favoured with a Green Paper sometime next summer.

Theresa May’s insistence on the importance of an...

It’s a hard, hard world

By Caring Times editor GEOFF HODGSON

A recent survey has found that 63% of the general public believe the NHS provides social care and 42% think...

Sign-up and pay, or perhaps pay more

By Caring Times editor GEOFF HODGSON

There are powerful arguments why carers working at night in small specialist care facilities should be paid their full hourly...