Southern Cross approves emergency plan
Struggling care home provider Southern Cross has approved a plan which is hoped to help rescue the chain, which provides care to people with long term care plans.
It is believed that proposals to be discussed between the care home provider, the government and banks involve other care companies taking control of their homes.
Other proposals include alterations to the management of Southern Cross, which could see the size of the company dramatically reduced. Under the new guidelines, it would also operate under a different name.
These measures mean that no Southern Cross care homes would close, but they would undergo a time of transition while property owners make a decision whether to stay with Southern Cross or switch to another care home operator.
Southern Cross was impacted by local authorities' decisions to spend less on care homes. The potential closure would have affected thousands paying for care in the UK.
Posted by Nigel Murphy