25 days ago by Neelam Khalid
Administrators have been appointed for the two holding companies of Four Seasons Healthcare, Elli Investments Ltd and Elli Finance (UK) Plc.
Four Seasons said the move was designed to ring fence its £500m plus debt and launch the sale of its operational business.
A spokesperson told CHP: “We have decided to call in administrators in respect of the holding companies that carry the group’s debt.
Four Seasons expects the sale of its operational business to now be completed by the end of the year.
“Administration offers a level of protection for the operational business which remains fundamentally strong, profitable and improving its performance,” the spokesperson added.
“The administration effectively launches the sale process which can now be carried out in an orderly and independent fashion.”