Qualia Care Limited (10060267): administration
- Status
- In administration
- Administration began
- 2022-10-10
- Administrators
- Stephen Hunt
- Administrators' firm
- Grant Thornton
- Incorporated
- 2016-03-14
- Location
- Northampton
- Industry
- 87100 Residential nursing care facilities
Why it went into administration
- Property / lease costs
- Regulatory change or action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 14 March 2016 and traded as a provider of residential nursing care facilities.
The Company operated nursing homes owned by connected companies, Qualia Care Properties Limited (“QCP”) and Qualia Care Developments Limited (“QCD”) under agreed operating licences.
On 11 September 2020, QCP and QCD entered administration. As part of the administration process, QCP and QCD entered into an agreement (the “SPA”) with Property Alternative Holdings Ltd (“PAH”) to acquire the individual care homes through its subsidiaries (the “PAH Subsidiaries”) for the sum of £5,852,654. The purchase price was £50,000 upfront and then the balance payable over 8 years in quarterly instalments of £175,000 with a final balloon payment of £1,802,654.00 payable on 31 December 2028 and was secured by a charge registered against PAH. PAH also undertook to meet the ongoing rental liabilities to investors in the former QCP/QCD homes.
Administrators' statement of proposals (2022-12-14) · Companies House register