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

The NHS and all that jazz

By Caring Times editor GEOFF HODGSON

Last week the National Health Service marked its 70th anniversary. The irony is that, when this all too human institution...

The bland leaving the bland?

By guest blogger JEF SMITH

The headline for an interview which Sir David Behan, the Care Quality Commission’s departing chief executive, gave to The Guardian...

IT comes to CQC

By guest blogger JOHN BURTON

This month, IT is coming to CQC in person. David Behan is leaving, and DB’s replacement is IT, Ian Trenholm...