Magna Care Centre Limited (04892397): administration
- Status
- Administration ended
- Administration began
- 2011-10-28
- Administrators' firm
- Evelyn Partners
- Incorporated
- 2003-09-09
- Location
- London
- Industry
- 8514
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was mcorporated on 9 September 2003 1n orde: to purchase 2 nursing home business, although it was not known which one at the trme The Lyme Regis home was targeted and acquired fom the previous owner, Stepping Stones, in 2005
The nursing home itself was onginally a cottage hospital, built and paid for by local residents The building was convezted to a nursing home in the 1990s
The busines$ struggled from the start with the ongmal management ream Although the ouginal management company was replaced, the problems were compounded by the temporary closure of Axmunster hospital The hospital had been a regular source of 1esident 1eferrals and its closure and the cessation of panent refeirals caused the occupancy to drop as low as 14 in 2008 The resultant drop in turnover iesulted in losses and cash flow problems
Administrators' statement of proposals (2011-11-29) · Companies House register