A private care home provider which offers services to hundreds of residents in Nottinghamshire has been placed into administration.
Four Seasons Health Care is one of the biggest private home operators in the country with almost 20,000 members of staff and 17,000 residents nationwide.
Alvarez and Marsal LLP have been appointed as administrators for Four Seasons' two holding companies that carry debt - Elli Investments Ltd and Elli Finance (UK) Plc - as a buyer is sought for the group.
In a statement, it was confirmed all operating companies under which the group's care home operations sit, of which there are seven in Nottinghamshire, are not in administration and will continue to run as normal.
"The Group has entered into a funding agreement which provides sufficient operational funding to ensure continuity of care for all of the Group’s residents and patients during the independent sales process period," the statement added.
Dr Claire Royston, group medical director of Four Seasons Health Care, said: "Today’s news does not change the way we operate or how our homes are run or prompt any change for residents, families, employees and indeed suppliers. Our priority remains to deliver consistently good care.
"It marks the latest stage in the Group’s restructuring process and allows us to move ahead with an orderly, independent sales process."
In Nottinghamshire there are seven care homes under the Four Seasons umbrella and they have capacity to care for a total of 413 people.
The care homes run by Four Seasons are:
Lawn Park Care Home, Sutton-in-Ashfield
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Old Vicarage Care Home, Worksop
The Oaks and Little Oaks Care Home, Newark
The Sycamore and Poplars Care Home, Mansfield
Tudor Grange Care Home, Radcliffe-on-Trent
Churchfield Care Home, Mansfield
Charnwood Care Home, Carlton
Richard Fleming, joint administrator for the two holding companies, said: "We are committed to ensuring the group delivers continuity of care as we work to undertake the independent sales process.
"The group has continued to improve its quality ratings across their portfolio of homes and hospitals. The group’s operations are fundamentally strong and a successful sales process will enhance those operations’ ability to thrive."
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