Wed, 09 Nov 2011 | ADMINISTRATION
Administrators are looking for buyers for care homes in Scotland's Argus Care Group, which has entered administration.
The company, which is based in Aberdeen, runs twelve residential and nursing homes throughout Scotland, with three in Ayr, two in Aberdeen and one each in the towns of Peterhead, Turriff, Oban, Bishopton, Dunoon, Castle Douglas and Blairgowrie.
Administrators have been appointed from financial services firm, PKF, and will be running the homes as normal during the administration process and while the search for buyers is carried out.
Corporate recovery partner at PKF, Bryan Jackson, said, "We will ensure that all residents, their relatives, and staff are kept fully informed of any developments as well as notifying the relevant local and regulatory authorities. We appreciate that these are not like any other businesses but are the homes of the residents and ensuring there is continuity of care is our priority."
He explained that the administration had been the result of growing debts and cash flow problems. These had been worsened by pressure from creditors of the company, and the business had been left no choice but to enter administration. The homes employ a total of 780 staff caring for around 500 residents.
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