March 25, 2019 Property

RSM Administrators conclude successful sale of Bristol care home

Administrators from RSM have concluded the successful sale of the Woodlands Manor Care Home in Bristol to new owners.

Driskal Limited, trading as the Woodlands Manor Care Home, fell into administration last November as a result of working capital difficulties.

Following a successful marketing campaign, the home in Kendleshire has now been sold to Genie Care Homes Limited, a family-owned business which operates five other homes in the South West.

The sale provides continuity of care for 25 residents and secures the jobs of 48 staff.

The new owners intend to complete building works at the home which will improve facilities for residents and expand capacity to 53 beds.

Mark Boughey, RSM Restructuring Advisory partner and one of the Joint Administrators, said ‘I am delighted that we have been able to complete the sale of Woodlands Manor Care Home to Genie Care Homes. This brings to an end the uncertainty for residents and their families, it secures the jobs of 48 staff and provides the best possible outcome for creditors. We wish the new owners every success as they seek to improve and expand the home for new and existing residents.’

About

We speak up for the independent sector. All news articles are published by editor Viv Shepherd.

Read more posts by Viv