Care homes giant Four Seasons has gone into administration, raising fears for elderly residents in Greater Manchester.
The industry giant appointed administrators on Tuesday after struggling to repay debts.
Corporate undertakers at Alvarez & Marsal (A&M) are set to carry out the process.
Four Seasons said the move would not affect care arrangements or lead to the closure of homes.
It houses 22,000 elderly residents across 322 homes and employs around 20,000 staff.
The ten care homes in Greater Manchester affected:
Holly Court Care Home - Salford
Laburnum Court Care Home - Salford
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Hulton Care Home - Middleton
Regency Care Home - Whitefield
Bamford Grange Care Home - Stockport
Half Acre House Care Home - Radcliffe
Heywood Court Care Home - Heywood
Cameron House Care Home - Bury
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St Catherines Care Home - Horwich
Shawcross Care Home - Wigan
Dr Claire Royston, group medical director of Four Seasons, 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."
The collapse is the biggest care homes failure since Southern Cross went bust in 2011.
Late last year, US hedge fund H2 Capital Partners, which controls Four Seasons, ordered a sale of the crisis-hit company, which is struggling under a £525m debt mountain.
The bulk of the debt is held by H2, which is run by Spencer Haber.
Only weeks ago, Four Seasons insisted it had 'sufficient operating liquidity' to be able to complete the sale process.
The group has previously been owned by Guy Hands' private equity vehicle Terra Firma.
Terra Firma bought it for £825m in 2012 and had to stomach a £450m writedown on its investment.
Over the past few years, Four Seasons has been stung by a cut in local authority fees.
It's also been hit with rising costs and the introduction of the national living wage.
Richard Fleming, of A&M, 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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