The operator of a number of Aviva Investors’ Quercus Healthcare fund-owned care homes in Scotland, has entered administration.
Argus Care Group, which leases 12 of Quercus’ 238 properties, including three in Ayr, has appointed PKF as company administrator.
Quintain, the asset manager for Quercus, will see its tenant trade through insolvency while a buyer for the business is sought.
A PKF spokesman said: “Unfortunately the group had debts and cash flow problems, which were exacerbated by creditor pressures, that led to the administration of the company.”
joanna.bourke@estatesgazette.com
