Bankrupt brothers’ aged care homes into administration days before residents’ families’ deposits had to be paid – The Weekly SOURCE

The company owning Chronos Cares two aged care homes in Melbourne, founded by brothers Chris and Gerry Apostolatos who within weeks were declared bankrupt, has gone into voluntary administration six days before it was required to return deposits to families of former residents.

Administrator PCI Partners has assumed control of the day-to-day operation of Cronos Cares aged care homes in Alphington, 7km north-east of Melbournes CBD, and Mount Eliza, 63km south of Melbournes CBD, after Chronos Cares holding company Mali Nominees Pty Ltd went into administration on 30 July.

The company had been ordered by the Federal Governments Aged Care Quality and Safety Commission to return the deposits by 5 August or be stripped of its status as an a…