Allied plans debt restructure to stay in business


Posted on May 3rd, by geoff in Caring Times. Comments Off on Allied plans debt restructure to stay in business

Homecare provider Allied Healthcare is pursuing a company voluntary agreement (CVA) as part of a plan to restructure its finances due to a ‘highly challenging environment’ that has placed the company under pressure.

A CVA would see Allied agreeing a revised schedule of repayments with its creditors so that the company can continue investing in its services and people. Allied, which has contracts with 150 councils and employs more than 8,500 people, is owned by private equity firm Aurelius.

Rising labour costs , together with a potential £11m bill for backdated ‘sleep in’ payments, have been identified as the chief reasons for Allied’s financial troubles.





Comments are closed.


Latest blog posts

A deal of uncertainty

By Caring Times editor GEOFF HODGSON

Apart from death, taxes and a messy Brexit we live in a world of uncertainty. In social care we’ve...

Away with words

By guest blogger JOHN BURTON

Most organisations have a way with words – PR. “We are an open and honest organisation and the welfare/happiness/satisfaction/safety of...

Social care’s other users

By guest blogger JEF SMITH

I wish I understood more about how government policies get made, but I suspect that happenstance plays a bigger part than...