Fri, 20 Jul 2012 | ADMINISTRATION
Family-run care group Doson Limited has been placed into administration today after failing to meet outstanding debt repayments with creditors.
Doson was established in 1999 and is owned by husband and wife Kanagasabai and Gunararthy Logendra. They provide residential care facilities to hundreds of elderly people including specialist care to residents suffering from dementia and Alzheimer's across England and Scotland.
The group has a portfolio of care homes and property estimated in excess of £10 million with more than 100 employees across their various sites in the UK.
In 2008 Doson purchased the Autumn Care Group, a purchase which saw the company add a further five care homes from across North Yorkshire and Northumberland to their portfolio. The deal was valued at over £5 million with Doson raising most of the backing for the acquisition from various banks including RBS.
Doson has over 11 mortgages with various banks and lenders including Barclays, RBS and National Westminster Bank plc. The current recessive climate coupled with falling occupancy levels are most likely factors in the group's decision to appoint administrators.
Zelf Hussain of PricewaterhouseCoopers has been appointed as the administrator for Doson and it is expected that the company's various sites will be sold as a going concern, though the staff’s positions will hang in the balance. Click here if you would like to contact the administrator.
Doson Limited is the second large care operator to be placed into administration this month following Daymark Properties, the firm behind the Amber Wood Care Home in Cheltenham.
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