The Mount (Old Colwyn) Limited (06328562): administration
- Status
- Administration ended
- Administration began
- 2013-02-25
- Administrators
- Ben Woolrych, Christopher David Stevens
- Administrators' firm
- FRP Advisory
- Incorporated
- 2007-07-30
- Location
- Worthing
- Industry
- 87100 Residential nursing care facilities
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Regulatory change or action
- Rising costs / inflation
From the administrators' statement
The business operates a care home known as The Mount in Colwyn Bay, North Wales, The business was purchased in 2008. It is understood the property was purchased by ADG Healthcare Limited (ADG) The Mount (Old Colwyn) Limited (the Company) ts a wholly owned subsidiary of ADG Healthcare Limited The business and assets were purchased by the Company, which also inherited all of the employees.
Since purchasing the business in 2008, the business initially traded well with good levels of occupancy for the first two years It became more difficult to secure new residents in late 2010, as a direct result of a purpose built home that was opened locally The position became worse in May 2012 when the Home received a bad regulatory report from the Care and Social Services Inspectorate Wales ("CSSIW”) This led to the Local Authority placing a block on the placement of new residents in August 2012.
The business began to suffer as a result of a new purpose built home in the immediate area and naturally because of the block on residents following the problems with the regulatory authorities. There are not any management figures available to show the precise extent of these losses
Administrators' statement of proposals (2013-04-29) · Companies House register