1800 care jobs saved as Executive Care bought out of administration

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Deloitte LLPExecutive Care bought out of administation.

Clare Boardman, Bill Dawson, and Dan Butters were appointed Joint Administrators of Executive Care Group Limited on the 26 November 2014.

Following the appointment the Joint Administrators immediately sold the business and assets of the Executive Care Group Limited to Conduit Street Holdings 1 Limited, a company connected with Monarch Alternative Capital (Europe) LLP.

Clare Boardman, partner and Joint Administrator at Deloitte in the North East, said: “We are pleased to announce the sale of the business and assets of Executive Care Group Limited, which secures the future employment of some 1,800 jobs and protects the welfare of approximately 1,100 residents across 26 homes. The process to find a buyer for the business has resulted in our ability to keep all homes open and is expected to see the vast majority of unsecured creditors paid in full.”

 

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