European Care & Lifestyles (UK) Ltd (03856015): administration
- Status
- Administration ended
- Administration began
- 2014-04-16
- Administrators
- Alastair Paul Beveridge, Anne Clare O'Keefe, Daniel Imison
- Administrators' firm
- KPMG
- Formerly
- European Care Ltd; Ronreed Limited
- Incorporated
- 1999-10-08
- Location
- Manchester
- Industry
- 87200 Residential care activities for learning difficulties, mental health and substance abuse
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
This report should be read in conjunction with the Administrators’ disclosure report pursuant to Statement of Insolvency Practice 16 (SIP 16) - pre-packaged sale of business or assets, dated 17 April 2014, which gives further detail on the background to, and the sale of, the Company’s business and assets.
The Company 1s an intermediate holding company within the European Care Group (the Group) The Group principally operates elderly, specialist adult and children’s care homes situated throughout the UK, trading as European Care Group The group also operates three children’s schools and a resource centre.
During 2010, the Group’s financial performance was negatively affected by the poor econome climate. The Group worked with its lenders and external investors to provide a more stable financial platform for the Group to operate by way of restructuring.
Administrators' statement of proposals (2014-05-22) · Companies House register