Care Home Group in administration
It was announced this lunchtime that Four Seasons Healthcare, has gone into administration. The group runs over 250 care homes around the UK housing over 13,000 people. There has been no detailed information from the administrators beyond the fact they intend to run the homes as a going concern for the immediate future.
This is the biggest business failure in the sector since the demise of Southern Cross in 2011. However the root cause appears to be exactly the same, the company stating it has struggled to cope with cuts to local authority care fees and rising costs, and has repeatedly warned about its long-term stability.
The only home run by the group in Somerset is the Gotton Manor Care Home at Cheddon Fitzpaine, Taunton, Somerset, TA2 8LL, UK. The home had60roomsin total and offered residential Care, nursing care, and respite care. The contact number for the home is 01823 478 442
We appreciate this will be a worrying time for residents and their families as well as the care staff employed by the group.
Are we surprised ? care providers business plans are to make a return of 12%, or is it 14%, for investors.