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Voluntary Administrators appointed to aged care facility


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Drysdale Aged Care Hostel Pty Ltd ACN 060 041 232 (Administrators Appointed)

Deloitte partners Simon Wallace-Smith and Salvatore Algeri have been appointed as Voluntary Administrators to Victorian nursing home operator, Drysdale Aged Care Hostel Pty Ltd on Friday 23 October 2009.

The appointment includes the management of one Victorian aged care facility, Palmerston Court Hostel, that has just under 30 residents.

According to Mr Wallace-Smith, the Voluntary Administrators have formed a view that given the financial position of the business, there was no alternative but to undertake an orderly closure of the facility.

The Voluntary Administrators noted that prior to their appointment an orderly sale process for the facility had been undertaken. However, despite significant market exposure, no suitable offers had been received for the facility and the Voluntary Administrators had little option but to cease trading.

“The closure of this facility is driven by commercial considerations and not as a result of care related issues,” said Mr Wallace-Smith. “Given the financial position of this centre, we now have no alternative but to commence an orderly wind down of the business. This will unfortunately adversely affect some 25 residents and their dedicated staff.”

“The Voluntary Administrators will continue to operate the business whilst an orderly relocation of residents is undertaken.”

The Voluntary Administrators have notified the Department of Health and Ageing of the decision to close the centre. They have commenced discussions with residents and employees regarding the options available to them. The Receivers will continue to engage with the Department throughout the notice period to ensure an orderly relocation of all affected residents to alternative accommodation.

“This decision is obviously not made lightly given the hardship this will cause both residents, their families and staff,” said Mr Wallace-Smith.

The company employs approximately 25 permanent staff. Mr Wallace-Smith confirmed that these staff will continue to be paid on an ongoing basis until the relocation process is complete. They were addressed on Friday and the Voluntary Administrators will also be holding a meeting with residents’ relatives shortly. Care standards are to be maintained while the business continues to operate.

“The Voluntary Administrators and staff will continue to do as much as they can to help residents with their search for new accommodation,” he said.

The centre is located in Drysdale in Victoria.

For further information about the voluntary administration process, please refer to the ASIC information website.

For further information:  
Creditors only: Simone Harrison
Corporate Reorganisation Group
simoharrison@deloitte.com.au

Last Updated: 

Contacts

Name:
Karina Randall
Company:
Deloitte Australia
Job Title:
Corporate Affairs & Communications
Phone:
Tel: + 61 2 9322 3778, Mobile: +61 414 823 712
Email
karandall@deloitte.com.au

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