# Magna Care Centre Limited (04892397)

> Why UK company 04892397 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04892397

- **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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04892397/filing-history/MzA0ODAyOTYwMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04892397

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.