The 31,000 elderly and disabled residents in 750 care homes run by Southern Cross face uncertainty over their future after the group ran out of money to pay the rent.
The country’s second largest private care home provider, Four Season Health Care, which is also a landlord of Southern Cross homes, sought to reassure residents after concerns were raised over its debts of £700 million.
One industry source said it was “only a matter of time” before other private care home providers “end up in a similar situation”.
Southern Cross has announced that it is to underpay the rent to the landlords of its care homes by 30% for the next four months as it struggles with high losses and rising bills.
Categories: UK
Great story. I have recently learned about your story, and I feel it’s very informative for me.I have never heard about it earlier. Thanks for the information.My best wishes are with the tenants.