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Thursday 29 September 2016
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Southern Cross landlords to take over

Landlords are to take over the running of care homes owned by Southern Cross after the operator announced it is closing down.

Some 250 of the 752 care homes owned by the company are to be transferred to their landlords and operators.

Plans for the remaining homes are being finalised, Southern Cross said.

Southern Cross said it will continue with payments to trade creditors to ensure continuity of care for its 31,000 residents across the country. Meanwhile its shares have been suspended with immediate effect.

Southern Cross had hoped to come to an agreement with its landlords over the properties during talks but the landlords said they had decided to leave the group, it said.

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