Healthcare Insolvency Specialists Moorfields appointed Administrators over Care Home Operator

Simon Thomas and Nicholas O’Reilly of leading restructuring and insolvency firm, Moorfields Corporate Recovery LLP, were appointed as joint administrators of Mapara Investments Limited 14 March 2014 and two associated companies, Redruth Care Limited and Cedarwood Nursing Home Limited. The group owns 3 homes specialising in dementia care and specialist needs for adults.

Redruth and Cedarwood are located Northampton whilst St Bennetts Care home, owned by Mapara Investments Limited, is located in Leicester. Between them the homes provide care for a total of 96 service users.

Healthcare insolvency specialists, Moorfields Corporate Recovery, are assessing the position and the homes continue to operate as usual. Interested parties are invited to contact the joint administrators.

Commenting on the appointment, Simon Thomas said: “Like many converted care facilities, the Mapara group has been working hard to meet the exacting demands of the Care Quality Commission by ensuring the facilities and services on offer comply with best practice. The key challenge for many homes - and a recurrent theme in their financial and operational distress - is an historic lack of investment and the limited availability of capital to address the issues. We hope to continue to trade the homes whilst we look for a buyer. During this time, the needs of the service users remains our main priority.”

For further enquiries please call Gareth Williams on Tel: 0207 186 1143 or email gwilliams@moorfieldscr.com

 

About Moorfields

Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations

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