Loyalty Care Limited (05157850): administration
- Status
- Administration ended
- Administration began
- 2012-12-18
- Administrators
- Julian Pitts, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-06-18
- Location
- Southend-on-Sea
- Industry
- 87300 Residential care activities for the elderly and disabled
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Loyalty Care Limited was incorporated in June 2004 for the purpose of operating a care home
The Home has histoncally benefitted from occupancy rates of over 75%, enabling it to produce regular profits In early 2012 the Company began experiencing difficulties in complying with the requirements of the fire service following a routine inspection This continued for many months, dunng which time the Company spent considerable time and money in an effort to satisfy the requirements Until such time as compliance was evidenced the Home was subject to a block on new resident referrals, resulting 1n falling occupancy
Despite employing the services of an independent consultant to deal with the problems with the fire service, the Home sti! failed to satisfy the requirements and occupancy fell to below break even
Administrators' statement of proposals (2013-02-22) · Companies House register