Southern Cross has secured a further extension of its banking facilities until the end of August.
Lenders to the beleaguered care homes group will continue to offer finance supporting the restructure of Southern Cross, which includes the transfer of all 752 homes to new operators by the end of October.
The finance extension is in addition to the continual deferral of rent with effect from 1 June, and lenders previously agreeing to extend banking facilities until the end of July.
Christopher Fisher, chairman of Southern Cross, said: “We appreciate the ongoing support of our lenders during this period of transition. It reaffirms the commitment of those involved in the process to the continuity of care for all of our residents.”
joanna.bourke@estatesgazette.com
