Four Seasons could sign debt deal this week

DEBT laden care home operator Four Seasons could see the end of months of uncertainty this week, as its refinancing proposal is finally agreed.

An initial agreement to cut the Wilmslow-based company’s debt by more than 50% to £790m was announced in September, after protracted negotiations with its lenders that had been ongoing for more than a year.

Accounts signed off at the end of October revealed the lock up agreement was for £950m of existing debt for an equity investment in the group’s new holding company.

But with the details of the deal now agreed, final documents were sent to lenders for signing on Friday night, TheBusinessDesk understands.

The finalisation of the deal will end months of insecurity for the company, which employs 19,500 staff.