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.

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