A QUESTION mark again hangs over the future of a Warrington care home which was “rescued” only in November.
St Oswald’s Care Home, in Golborne Road, Winwick, was one of three former Southern Cross homes in the Warrington area which changed ownership last year after the company got into financial difficulties.
It is now owned by Four Seasons Healthcare – along with the nearby Alexandra Care Home, in Wargrave Road, Newton-le-Willows.
According to a leading ratings agency, the Four Seasons property estate has been overvalued by 30 per cent and is not enough to cover £780 million debts due to be repaid by September.
Four Seasons says it is not for sale – but a report in the Wall Street Journal says Wednesday next week, April 25, is the deadline for bids to be received to acquire the company.
The report says there are a number of potential buyers and that the company is still in talks with existing shareholders, led by Royal Bank of Scotland, about a refinancing deal.
Four Seasons Healthcare operate 500 homes in the UK, employing 30,000 staff caring for 25,000 elderly and vulnerable residents.
They own 45 care homes in the North West.
The GMB union represents staff at Four Seasons homes and recently wrote to councils across the region alerting them to the current financial position of the company.
They claim that when Four Seasons took over 140 Southern Cross homes last year, the union warned that the staff and residents were being asked to “jump from the frying pan into the fire.”
Paul McCarthy, GMB regional secretary, said: “It cannot be right that the residents, their families and the staff in the 45 Four Seasons care homes in the North West must learn through the media what is happening with the £780m of debts that have to be repaid by this September.”
He warned that local councils seemed likely to have to step in again, as they did when Southern Cross collapsed.
Cllr
Pat Wright (pictured), Warrington Borough Council’s executive member for health and wellbeing and adult services,
said: “We want to reassure residents and their families that we are
monitoring the situation closely and we are well prepared if we need to take
action to support St Oswald’s care home at any point. There is no cause for
panic and we will continue to keep a close eye on this and every care home in
Warrington to ensure that the quality of provision is maintained.”
Two other former Southern Cross homes at Warrington – Callands and Three Bridges – were taken over by different operators.
