UK’s largest care home operator to consider all options as ‘national living wage’ is said to add to financial pressures
Fours Seasons Health Care, Britain’s biggest care home operator, has launched a financial review after second-quarter losses surged to £26m, raising fresh fears over the indebted group’s viability.
Owned by Terra Firma, the buyout firm controlled by Guernsey-based financier Guy Hands, Four Seasons is paying more than £50m a year in interest on debts of £500m. But its earnings before interest, tax and other charges were just £51.5m in the last 12 months, according to the latest accounts.
Source: The Guardian Circular Economy RSS