Four Seasons care homes' chain set 'to be shut' if deal fails to save it from crippling £525m debt



Four Seasons is 24 days away from being potentially banned from taking on any elderly residents unless it strikes a deal over its debts.
The care homes’ chain, which has 17,000 beds across its 324 homes, owes £525 million and has warned it cannot afford to pay a £26 million interest payment due on December 15.
It is in talks with key creditor H/2 Capital Partners, the US hedge fund, to defer the interest, and cut debt.
But talks appear to have stalled and if it misses the interest payment on December 15, the Care Quality Commission could step in and prevent it from taking on new residents.... read more

 
22 November 2017 in Business, Views: 69
Source: Daily Mail
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