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Post by Denise on Jul 20, 2011 13:55:09 GMT
Stricken care home chain Southern Cross is being broken up after attempts to rescue the company floundered. Britain's largest operator of care homes told the City that its 750 homes are being taken over by its landlords, a move which brings more uncertainty for some of its residents. The decision also means that shareholders in the company will be wiped out. Under this plan, 250 of Southern Cross's homes will be transferred to landlords who are either care operators already or who have "strong links" to firms who provide such services. The owners of the remaining 500 homes, though, are still "finalising their plans", which could involve homes being sold. For more ilnformation see link www.guardian.co.uk/business/2011/jul/11/southern-cross-landlords-take-over-all-homes
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