Four Seasons backers agree £70m rescue package

Four Seasons care home

Cheshire-based Four Seasons Health Care – the UK’s largest care home provider – has confirmed it has received a commitment to a £70m of funding from its US-based hedge fund backers to stabilise  its operations.

The company today confirmed reports earlier this week that H/2, which owns the majority of Four Seasons bonds had agreed to make the sum available in order to repay an existing loan to the company, as well as providing £30m of new interim funding.

Four Seasons chairman Robbie Barr said: “We are very appreciative of H/2’s willingness to consider expanding its already substantial commitment to Four Seasons Health Care and for the continued support of all parties in pursuit of a consensual agreement.

“Working together to close the facility over the next two to three weeks, we believe that this incremental liquidity and initial steps toward a revised governance structure lay the foundation for a consensual restructuring that benefits all stakeholders, and in particular provide continuity of care for our residents.”

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