Thu, 03 Aug 2023 | BUSINESS SALE
A care home in Chadderton, Oldham has been acquired out of administration by a company wholly-owned by the local council. The Chadderton Total Care nursing home faced closure as a result of the former owner’s deteriorating financial position, amid challenging conditions in the UK’s health and care industry.
The care home’s former provider fell into administration on July 26, with a deal subsequently effected for the business and certain assets to be acquired by Oldham Total-Care Ltd (OTCL), a wholly-owned subsidiary of Oldham Council. The completion of the deal is subject to OTCL securing registration with the Care Quality Commission.
Law firm Addleshaw Goddard LLP acted on behalf of administrators BDO during the transaction, while the deal was negotiated by a council team advised by Liverpool-based law firm Weightmans. The acquisition has secured around 200 jobs at the care home, which cares for more than 100 vulnerable residents.
Weightmans partner Charles Boyne commented: “This was a transaction which required a rapid turnaround in order to safeguard the position of the residents in the immediate term.”
“All the professional advisers (including the main stakeholders at the council) across the piece were aligned in respect of the need to find solutions pragmatically and speedily to the developing risks of closure.”
Councillor Barbara Brownridge, Cabinet Member for Health and Social Care, said: “This is a very challenging time for the health and care industry as a result of rising inflation and energy costs and staffing pressures which significantly affect how care homes can operate.”
“This is the second largest care home that provides nursing care in the borough and its closure would affect hundreds of people who we have a duty to protect.”
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