Healthcare Specialists Moorfields Appointed Administrators over Two Care Homes in Kent
Simon Thomas and Arron Kendall, Partners of Moorfields Advisory, were appointed Joint Administrators of Beechtree House Limited and St Mary’s (Dover) Limited on 4th October 2017.
Beechtree House and St Mary’s operate as freehold care homes located in Maidstone and Dover respectively. The homes provide residential and dementia care for elderly service users and between them the homes are registered for a total of 60 people.
Moorfields have appointed Healthcare Management Solutions (HCMS) to oversee the operational aspects of Beechtree House whilst the Joint Administrators assess the present position of the company and its future trading prospects.
Unfortunately St Mary’s in Dover will be closed on 20 October 2017 as it was unable to meet the required CQC standards for it to continue to trade. Places have already been found for the remaining service users who will be relocated prior to the closure of the home.
Those parties interested in acquiring any of the companies’ assets are invited to contact the Joint Administrators.
Commenting on the appointment, Simon Thomas said:
“Like many converted care facilities, Beechtree House and St Mary’s have struggled to comply with regulations and increased operating costs have meant that margins were tight.
Small residential care homes are faced with two main issues: a reliance on self- funders to increase profit margins and difficulties in attracting appropriate staff due to wage constraints. These businesses did not have funding for the capital expenditure required to improve the service offering which had adversely affected the ability of the homes to attract private residents with a resulting impact on profitability.
We hope to be able to continue to trade Beechtree House whilst it is marketed for sale as going concern and manage the orderly closure of St Mary’s. During this time, the needs of the service users remain our main priority.”
Interested parties should contact 0207 186 1144 or firstname.lastname@example.org
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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.View all Our News