Bonehill Limited, a company which owns two care homes in the West Midlands, entered into administration on 6 June 2012 with the appointment of Joint Administrators Chris Stevens and Phil Armstrong of FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm.
The administration affects two care homes owned by the company – Bonehill Lodge in Tamworth and House on the Hill in Sutton Coldfield – both of which are home to the elderly.
The company, which had an annual turnover of circa £800k, was placed into administration following a winding up petition from HMRC being presented after a failed CVA (Company Voluntary Arrangement). Chris Stevens and Phil Armstrong are now working with property agents Christie & Co. to secure the sale of the homes.
Commenting on the situation, Chris Stevens said: “The care of the residents is always paramount. We are therefore continuing to trade the care homes whilst seeking a buyer for the business in order to cause minimal disruption.
“We have placed specialist healthcare professionals to work with the business as management to ensure a smooth transition, and hope to secure a sale over the coming weeks in order to safeguard the future of the business and jobs for the employees.”
Category: Business Transfer, Care funding, Care Home Finance, Care Home Funding, Care Home News, Care Homes For Sale, Care Industry News, Care News, Care Operators, Care provision, Elderly care, Nursing Care, Older People, Residential Care