Administrators, Alvarez & Marsal, are preparing the sale of care home group, Four Seasons Healthcare, according to reports.
Reports over the weekend said the administrators, who were brought in by the group in April 2019, are to appoint restructuring specialist BDO to complete the sale process.
Alvarez & Marsal Europe announced the conditional sale of part of The Huntercombe Group (THG) business to healthcare specialist firm Montreux Capital Management (MCM) in the latest round of restructuring of Four Seasons in November last year.
The deal followed the launch of the sale of Four Season’s Northern Ireland care home business in October.
Previously, the transfer of 102 leasehold care homes to rival operators was announced in December 2019 and March 2020, respectively, with the restructuring of the portfolio, including the unification of the company’s Four Seasons and brighterkind operations.
However, a deal to sell 185 freehold properties to leading creditor H/2 Capital collapsed in October 2019.
Four Seasons declined to comment on the ongoing sale process, stating: “Our utmost focus remains the safety and well-being of our residents.”