November 2012

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November 6, 2012 : Britain's biggest care home owners have debts of more than £4.5bn

Britain’s biggest private care home owners have combined debts of nearly £5bn raising fresh concerns about the financial health of companies looking after thousands of elderly and disabled people.

An investigation by Corporate Watch and The Independent has established that three of the top-10 companies, which own around 800 homes, have been rated as risky by leading credit agencies over concerns about their ability to pay off their large debts in the tough economic climate.

Meanwhile, receivers have been called in to a subsidiary of the ninth largest care home company, Bondcare, which has 74 homes, following concerns raised by its lending bank.