And experts warned that these difficulties come as care homes still struggle with debts from before the credit crunch.
As a result, 101 care homes were declared insolvent in 2018.
Analysts from the accountancy and business advisory firm BDO LLP, which conducted the research, warned that the sector is continuing to suffer from trading difficulties which have been dogging it for almost a decade.
Recent increases in interest rates have also started to ratchet up costs.
Insolvencies in the care home sector has also suffered as a result of the reduced spending by central government.
Payments from local authorities remain the main source of care home fees.
But separate research by the Association of Directors of Adult Social Services revealed that l…
Read the full article at: https://www.express.co.uk/news/uk/1100058/care-home-crisis-funds-cut-rise-in-costs-marie-curie-elderly-health