The care home industry is in an even worse financial state than feared after a revision of government data revealed that nearly 100 more such businesses than previously thought have collapsed since 2010.
The release of the figures has heightened calls for Philip Hammond, the chancellor, to offer financial support to care homes in the autumn statement.
A total of 380 care home businesses have been declared insolvent since 2010. This is 98 more than previously thought after the Insolvency Service revised its figures to show that the number of insolvencies between 2010 and 2013 was nearly double the previously stated number 212 up from 114. The Insolvency Service said this was due to an error in data processing that saw the residential…
Read the full article at: https://www.theguardian.com/business/2016/nov/22/care-homes-insolvencies-autumn-statement