A PRIVATE care home provider has moved to reassure its residents after concerns were raised that the company is going bust.
Shares in Southern Cross Healthcare, which runs 750 homes, sank 60 per cent as it revealed it may not be able to pay off its debts.
Its losses doubled to £47.4m in the year to September 2010.
The firm runs Cams Ridge in Fareham, Hamilton House in Drayton, and Woodcot Lodge in Gosport.
Mark Cash, SCH regional director for South England and Wales, said: ‘I would like to reassure people that residents in our care homes do not face the prospect of being made homeless.’
He added: ‘We are taking decisive action to ensure our business remains sustainable.
‘We are also urging government, landlords and commissioners to work co-operatively in supporting us.’