Four Seasons back from brink in £26m debt standstill
A debt standstill agreement has been reached on a £26m interest payment due to major creditors of care home group Four Seasons to prevent it falling into administration.
The Cheshire-based company – the UK’s largest care home provider – said the new agreement provides stability for the business and reassurance for its 17,000 vulnerable residents and 25,000 employees as well as hundreds of agency workers.
This follows a standoff between Four Seasons’ backers, private equity firm Terra Firma run by tycoon Guy Hands and ... 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...
