by David Jones

djones@thekmgroup.co.uk

Staff at a Kent care home which went into administration have been told their jobs are safe.

In total, 27 posts at Fassaroe House in Deal were at risk after the home's owners, Fassaroe Ltd, suffered cash flow problems.

The home has now been sold to a Surrey-based care home owner for an undisclosed sum, preserving the jobs and ensuring a stable future for the residents.

The company entered into administration on July 14 last year. Chris Stevens and Ian Vickers, partners at specialist restructuring, recovery and insolvency firm, FRP Advisory, were appointed joint administrators.

Mr Stevens said: "The company had suffered a liquidity crisis. However, resident occupancy levels remained relatively strong, but financial difficulties with a small number of clients had a severe impact on cash-flow.

"To protect the underlying value of the business, it was agreed that the best course was to place the company into administration and appoint joint receivers over the property, while continuing to trade the business while buyers were sought.

"A suitable buyer was identified and as a result, we are pleased to announce that 27 jobs have been saved, and any potential impact upon residents has been diminished."

Fassaroe House has 28 elderly residents suffering from dementia.