Fri, 30 Aug 2019 | ADMINISTRATION
The company behind the Caerleon House care home in Newport, Wales has fallen into administration after citing a “cashflow situation” as the reason for its downfall.
Gwent Nursing Homes Limited was forced to call in professional advisory firm Quantuma to handle the administration process, with partners Graham Randall, Chris Newell and Paul Zalkin appointed as joint administrators.
At present, the administration has not impacted staff, and a statement from the administrators noted that no redundancies were planned.
Newell commented on the administration, saying: “Our immediate priorities are to ensure the business is maintained as a going concern and to seek a purchaser who has the financial ability to take the business forward on a more secure financial footing.”
Adding to this, Randall said: “Our immediate priority has been to start stabilising the business.
“In the first 36 hours we met staff, residents’ families, Aneurin Bevan University Health Board (ABUHB) and Newport City Council to ensure the 47 residents are receiving a high level of care and all statutory and regulatory requirements are being met.
“We have also engaged with Care Inspectorate Wales (CIW) and it is fair to say that there is relief amongst all stakeholders that we have stepped in to stabilise the business and secure its immediate future.”
Earlier in the month, ABUHB, Newport Council and the CIW provided managerial and financial support to Caerleon House as a result of the “cashflow situation”. However, now due to the administration, Gwent Nursing Homes Ltd is being marketed by Christie & Co. who are actively seeking a buyer.
Download the free comprehensive guide to buying a care home in the UK
See our current listings of care home businesses for sale
Confidential sale of a well-established lettings & estate agent in Leeds. The business has been trading for many years and has built up a fantastic reputation with hundreds of positive google reviews.
The business has been operating for over 20 years and has built up a fantastic reputation in their area. Boasting a portfolio of 700 and adding properties under management.
The company has traded for 16 years, based in the Northwest and operating nationally providing temporary staff to large corporate clients.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.