Springhill Home Limited (SC147115): administration
- Status
- Administration ended
- Administration began
- 2016-01-27
- Administrators
- Elizabeth Galbraith Mackay, Benjamin J Browne, Anne Clare O'Keefe
- Administrators' firm
- AlixPartners
- Incorporated
- 1993-10-22
- Location
- Glasgow
- Industry
- 87100 Residential nursing care facilities
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 22 October 1993 and owns and operates the Home, a care home in Kilmarnock, offering long term care for both residential and nursing patients, as well as shorter term respite care. The Home relies entirely on referrals from the local authorities for new residents and has no private fee paying residents.
The Company granted a standard security over the Home to Clydesdale Bank Plc (the Bank) on 10 June 2008 and a floating charge over all other assets on 18 January 2012. In addition, the Company granted a legal charge to the West of Scotland Loan Fund (WSLF) on 25 June 2013. WSLF loaned the Company £100,000.
The Company purchased the building from Strathclyde Regional Council in 1992, operating from the original Georgian house until January 2010 when a modern, 52 room extension was completed. A further refurbishment of the Georgian wing of the Home was completed in 2013, bringing the current capacity of the Home to 64 beds. The business has maintained average occupancy rates of over 90% historically. The Home employed 84 members of staff, including two directors.
Administrators' statement of proposals (2016-03-14) · Companies House register