Belfast Telegraph

Shares in care home giant fall as talks collapse

Shares in Britain's biggest care home provider plummeted after sale talks fell through amid a warning it may breach its banking covenants. Southern Cross Healthcare said its trading outlook continued to deteriorate in 2011 after admissions and fees declined as local authorities look for cheaper prices due to Government budget cuts. The company also revealed it has appointed advisers at KPMG to help it negotiate with landlords and lenders.