 PKF appointed administrators of Argus Care Group
08 November: Anne Buchanan, Bryan Jackson and Kerry Bailey of Accountants and business advisers PKF have today been appointed administrators of the Argus Care Group (this is comprised of the five companies listed below) which operates 12 nursing and residential homes across Scotland. The Aberdeen-based Group employs over 780 people and has 500 residents at the homes.
Over the last 15 years Argus Care Group has expanded from its initial Aberdeen base and opened homes across Scotland and the group provides full nursing, residential and respite care. With the full engagement of the landlord to the businesses, the Administrators have appointed two experienced care home operators to assist them in continuing to professionally operate the care homes.
The homes have all been visited and assessed as to quality and standards of care and to ensure that residents, staff and relatives are fully informed. The intention is to manage the care homes to ensure that residents are disrupted as little as possible.
Steps have been taken to stabilise the trading position and lines of communication have been opened with the relevant regulatory authorities. The Administrators are committed to ensuring that all care standards are maintained and that all homes remain open.
Bryan Jackson, joint administrator of Argus Care Group and corporate recovery partner with PKF, explained: “We will continue to operate the homes as normal while they are in administration. We will ensure that all residents, their relatives, and staff are kept fully informed of any developments as well as notifying the relevant local and regulatory authorities. We appreciate that these are not like any other businesses but are the homes of the residents and ensuring there is continuity of care is our priority.”
“Unfortunately the group had debts and cash flow problems which were exacerbated by creditor pressures which led to the administration of the company. Whilst trading we will be seeking buyers for the business trading from the homes and will market them as going concerns.”
Ends
The care homes are at the following locations:
· Ailsa Lodge, Bishopton
· Ashgrove Nursing Home, Dunoon
· Burnfoot Nursing Home, Ayr
· Doonbank Nursing Home, Ayr
· Fleet Valley Care Home, Castle Douglas
· Glenesk House, Turriff
· Jesmond Drive Care Home, Aberdeen
· Lynn of Lorne Nursing Home, Oban
· Rosemount Care Home, Blairgowrie
· The Glebe, Ayr
· Torry Nursing Home, Aberdeen
· Wyndwell Nursing Home, Peterhead
The administration of Argus Care Group involves five companies: Argus Care (Central) Ltd; Argus Care (Ashgrove) Ltd; Argus Care (Rosemount) Ltd; Argus Properties (ABZ) Ltd; and Doon Valley healthcare Ltd.
For further information, please contact: Andy Konieczko, 020 7065 0537, andrew.konieczko@uk.pkf.com or Selina Gartland, 020 7065 0419, selina.gartland@uk.pkf.com
Notes to Editors:
1. PKF (UK) LLP is a leading firm of accountants and business advisers with more than 1,500 partners and staff operating in 23 offices in the UK mainland firm, incorporating a wholly-owned financial planning company and associated offshore practices. The firm specialises in advising growing and entrepreneurial/owner-managed businesses, AIM and fully listed companies, and also has extensive experience in the public and not-for-profit sectors. Principal services include assurance and advisory; taxation; consultancy; corporate recovery and insolvency; corporate finance and forensic. The firm has particular expertise in advising sectors such as hotels and leisure; mining and resource; public sector; real estate and construction; professional practices; not-for-profit; and medical. The firm’s web site is www.pkf.co.uk
2. PKF (UK) LLP also offers financial services through its FSA authorised company, PKF Financial Planning Limited. PKF (Isle of Man) LLC is a limited liability company registered in the Isle of Man. PKF (Channel Islands) Limited is incorporated in Guernsey.
3. PKF (UK) LLP is a member firm of the PKF International Limited (PKFI) network of legally independent member firms. The PKFI member firms have around 2,200 partners and more than 21,000 staff in around 125 countries.
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