'Business as usual' while receiver seeks buyer for nursing home group
Published 05/03/2011 | 05:00
AROUND 300 residents and patients at four nursing homes will not be affected after the company running the homes was put into receivership yesterday.
Residents at St Peter's Nursing Home in Castlebellingham, Co Louth, St Doolagh's Park and Gormanston Wood nursing homes in Dublin and Suncroft Lodge Nursing in Co Kildare were told to expect "business as usual", despite the fact that all four residences will now be run by a bank-appointed receiver.
Guardian Healthcare operates the homes -- but it is owned by Birchford Investments Limited -- a business-and-property empire built up by developer Terry Devey during the boom.
Mr Devey is the high-profile developer behind the €100m Grand Canal Square Development in Dublin, a landmark residential and commercial development close to the city centre.
Birchford Investments Limited has debts of €175m, according to its most recent set of accounts.
Newly appointed receiver Kieran Wallace said that residents of the homes would not be affected by the development.
"My main focus as receiver is ensuring the homes continue to be managed on a business as usual basis," he told the Irish Independent last night.
Mr Wallace was appointed as receiver by ACC Bank, one of the main creditors of the company that runs the homes.
He will be seeking a buyer for Guardian Healthcare and the group's 200 employees and the existing management teams will all remain in place, according to the receiver.
Guardian Healthcare operates but does not own the premises where the homes are located.