Another care home going, going ....

Another interesting sad story - who picks up the tab? RBS (the State?).

http://www.guardian.co.uk/media/2012/apr/29/guy-hands-terra-firma-four-seasons?CMP=EMCNEWEML1355

And what really bugs me - not a single word about the residents (OK I realise it's in the Business section!).

"Four Seasons Health Care, which was prevented from going bankrupt by the state-owned Royal Bank of Scotland in a £825m rescue deal" You're right P&J - state picks up at least I think it said 40% of the debt.
"Four Seasons, which looks after 25,000 people in 500 homes, is struggling under debts of £780m,"
I fail to see how a Care Home could legitimately have such debts if most of their residents are self funding and even if they're not and LA & NHS (not often) negotiate prices down - they pay very low wages to their staff. Clearly the directors are taking huge amounts out of the business.
Surely the Government is going to have to open their own homes again as there's a limit to the regulations they can place on private business and the salaries they take.
In my area there's not 1 Local Authority home - they closed them down round about 2005.
Something's going to have to give.
MissPiggie

MissPiggie: Something's going to have to give.

It's you and me, PissP who are going to have to give, you and me - thought you would have worked that one out! (I know what you mean and it is an intriguing question).

I would like to see the LA homes return, although those around here left much to be desired.

P&J