Control of struggling care home company to be surrendered to major creditor
Control of debt-ridden care home company Four Seasons is set to be handed over to creditors by its private equity owner Terra Firma after it sustained losses of £450m, according to reports.
Main creditor, US hedge fund H/2 Capital has put forward a plan to rescue the Cheshire-based firm.
Initially, it was proposed that Terra Firma would keep an 11% stake in Four Seasons the PE company has now offered to hand over its entire holding to H/2, said The Financial Times.
“We stand ready to agree the transfer of our interest in ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
