Care home insolvencies soar

Mike Padgham runs Saint Cecilia’s Care Group

The number of care home businesses entering insolvency has leaped 83% because of ongoing pressures in the sector, research by accountancy firm Moore Stephens has shown. In 2017/18, 148 businesses went into insolvency compared to 81 in 2016/17 as the financial effects of reduced public funding, increased demand and high staffing costs took effect. The…

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