Daniel Smith and Adrian Berry of Deloitte, the business advisory firm, have today been appointed Joint Administrators to Care Investments (UK) Limited, Regents Investments Holdings Limited, Care Property Investments Limited, Sycamore Care Limited and Prokwest Limited.
The Group owns and operates five elderly care homes, situated predominantly in the North East of England, employing 381 staff and caring for around 350 residents. The Group also has an interest in 27 residential flats in Bishop Auckland.
The Joint Administrators’ strategy is to ensure that quality of care to all residents is maintained (and enhanced where possible), whilst a buyer for the homes is sought. Careport Advisory Services Limited (“Careport”) has been engaged by the Joint Administrators to assist with the day-to-day operational management of the care homes.
Daniel Smith, Joint Administrator and Partner in Deloitte’s Restructuring Services practice, said: “I am keen to stress that our approach will be one of ‘business as usual,’ aiming to ensure operations at the care homes remain unchanged and unaffected. We will, to the extent possible, seek to invest in the portfolio during the period of administration trading in order to enhance levels of care and amenity.”
“We will be conducting a detailed review of the business and will work closely alongside Careport and the key stakeholders to ensure that long-term financial viability is restored to the business. At the same time, we will work with the Care Quality Commission, Local Authorities, Department of Health and other regulatory and trade bodies to maintain the very highest standards of care.”
The Joint Administrators are in the process of contacting all involved directly, however, should any residents’ families or employees in particular have any concerns, we have set up the following helpline and email address:
Relatives Helpline: 07775 783562
Relatives Mailbox: email@example.com