A Caerleon nursing home that has been facing financial challenges has had its immediate future secured after administrators were appointed.
Graham Randall, Chris Newell and Paul Zalkin of business advisory specialists Quantuma have been appointed joint administrators to Gwent Nursing Homes Limited trading as Caerleon House following a period of financial instability.
Graham Randall, Joint Administrator said: “On 13 August 2019 we were appointed at very short notice as Joint Administrator’s to the company and receivers over the nursing home under the Law of Property Act. Our immediate priority has been to start stabilising the business.
In the first 36 hours we met staff, residents’ families, Aneurin Bevan University Health Board and Newport City Council to ensure the 47 residents are receiving a high level of care and all statutory and regulatory requirements are being met. We have also engaged with Care Inspectorate Wales (CIW) and it is fair to say that there is relief amongst all stakeholders that we have stepped in to stabilise the business and secure its immediate future.
Chris Newell added: “It has been a very difficult period for staff, residents and their families during a period of uncertainty. Feedback from the authorities on the level of care provided by staff has been excellent and their recent concerns have been entirely linked with the financial sustainability of the home. Our immediate priorities are to ensure the business is maintained as a going concern and to seek a purchaser who has the financial ability to take the business forward on a more secure financial footing”.
ENDS
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).
