Classic Care Homes Limited (03582131): administration
- Status
- Administration ended
- Administration began
- 2015-07-17
- Administrators
- Paul Stanley, Dean Watson
- Administrators' firm
- Begbies Traynor
- Formerly
- Addbefore Limited
- Incorporated
- 1998-06-16
- Location
- Preston
- Industry
- 87900 Other residential care activities n.e.c.
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated in June 1998 by the sole director, Mary Nawal, following the purchase of the business and property from its previous occupiers The Company commenced trading immediately taking over full contro! of the existing business and adopting all employee contracts Initial funding was obtained from Santander UK Plc (“Santander”) by way of a mortgage against the property A second mortgage was later granted to Lloyds Bank Pic (‘Lloyds’) in relation to the overdraft facility obtained to support ongoing trade
The Company operated a care home in Cheadle, Stoke-on-Trent which traded under the name of Daisy Bank Nursing Home The home was registered by Care Quality Commission ("“CQC’) for 32 residents with a varying need of care including nursing and dementia
The Company traded successfully for a number of years with plans being drawn up to extend the property to meet the growing demand for resident vacancies The home attracted both private and NHS funded residents securing consistent income on a week by week basis
Administrators' statement of proposals (2015-09-18) · Companies House register