Threatened Morecambe care home could be saved
An under-threat Morecambe care home could be saved after its operator struck a last-ditch finance deal.
Four Seasons, Britain’s second-biggest care homes operator, has struck a deal with its major creditor that staves off the immediate threat of administration.
The group, owned by Guy Hands’ private equity vehicle Terra Firma, is struggling under £525m of debt and faced a critical interest payment on Friday.
Four Seasons operates nine care homes in Lancashire, including Morecambe Bay Care Home in Gleneagles Drive, Morecambe, which has 61 residents.
In August, Care Quality Commission... read more
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