Filter news by:

FRP Advisory secures sale of 5 care homes

8 December 2011

Administrators save 122 jobs and safeguard places for more than 100 residents.

Carestream Limited and Helpcare Limited, which both entered administration in November 2008, have been sold by the Joint Administrators, Chris Stevens and Ian Vickers, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm. The sale, to Care Homes UK Limited, secures the places of more than 100 residents and safeguards 122 jobs.

Carestream Limited operated two homes; Oak Lodge in Darlington and Haven Lodge in West Yorkshire, while Helpcare Limited operated three homes; Amber House in Newcastle, Stockingate in Pontefract and Victoria House in Wakefield. All five have been sold as a part of the deal.

Commenting on the case, Chris Stevens said: "With the help of our managing agent, Goldcare Future Management Limited, we were able to run these care homes for a period of 3 years while we sought a suitable buyer. It shows that going into administration does not always have to mean the end of the road.

"At the time both organisations were in serious financial jeopardy, but together with the team at Goldcare, we were able to ensure each home could operate viably for a sustained period of time. Importantly, this meant we did not have to interrupt the care of residents at each home."

For further information, please contact us using the online form below.

Press contacts

Kate Macnamara, Grayling
Tel:   +44 (0)121 265 2761
Mobile: +44 (0)771 422 2793
Email:   kate.macnamara@grayling.com

Jade Devlin, Grayling
Tel: +44 (0)121 265 2760
Email: jade.devlin@grayling.com