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Further care home closures imminent 24 April 2014

Two Northampton-based nursing homes are facing closure if administrators cannot find a buyer for the businesses.

Redruth Nursing Home and Cedar Wood Nursing Home both entered administration last month and have yet to secure new ownership.

Simon Thomas and Nicholas O’Reilly of Moorfields Corporate Recovery were appointed to the operator companies Redruth Care Limited and Cedarwood Nursing Home Limited on 14 March.

The administrators are now warning that unless a buyer can be found, the homes will close within the next four weeks as turnaround efforts were unsuccessful.

Thomas, partner at Moorfields Corporate Recovery, said: “Over the past few weeks we have carefully reviewed operations at both homes and concluded that it will not be possible to turn them around and stem trading losses in the short or medium term.

“It has therefore become inevitable that steps will have to be taken to for us to work with staff and the authorities to shut the homes over the next four weeks.

“Our absolute priority will be to ensure that the needs of residents are prioritised and handled in the most sensitive and professional manner possible. In the meantime, we will work hard to identify purchasers for both homes within the care sector or the alternative use markets.”

Earlier this week, administrators from Begbies Traynor announced buyers were being sought for three more nursing homes that had entered administration – Greenbushes Nursing Home and Avenue Nursing Home in Dorchester, and Windsor Court Nursing Home in Bournemouth.

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