One of the country’s largest care home providers is to be put up for sale after the companies that own it announced they were calling in administrators.
Four Seasons Health Care Group, which owns more than 250 UK care homes, said the move would not mean any immediate changes for residents and was part of an ongoing restructuring process.
Administrators have been appointed to the holding companies Elli Investments Limited and Elli Finance (UK) Plc, which carry debt, reported to be in the region of £0.5bn.
However, an announcement from Four Seasons said the operating companies under which the care home and hospital operations sit were not in administration and continued to be “run as normal by the existing leadership teams”.
The Care Quality Commission, which has responsibility for oversight of the care home market in England, said it did not expect services to close as a result of today’s announcement.
Debbie Westhead, CQC interim chief inspector of adult social care, said: “CQC’s market oversight function is fully aware of today’s developments and will continue to closely monitor the position.
“Our market oversight regulatory responsibility is to advise local authorities if we believe that there will be likely service cessation as a result of likely business failure. We do not believe this to be the case at this time.
“We will continue to keep this under review and remain in regular contact with Four Seasons Health Care throughout this process.”
Dr Claire Royston, Four Seasons group medical director, said: “Today’s news does not change the way we operate or how our homes are run or prompt any change for residents, families, employees and indeed suppliers. Our priority remains to deliver consistently good care.
“It marks the latest stage in the group’s restructuring process and allows us to move ahead with an orderly, independent sales process.”