Ailing care home giant Southern Cross Healthcare has boosted its management team to try to turn around its financial fortunes and avoid going into administration.
The biggest appointment is that of Tim Bolot as director of financial restructuring. With Southern Cross’s care homes generally in buildings leased from landlords, one of Bolot’s first tasks will be to renegotiate terms.
In a statement, Southern Cross said Bolot – a barrister and chartered accountant with “extensive” experience of restructures in the healthcare industry – would “bring additional skills and expertise”.
Chairman Ray Miles said: “The board is committed to ensure that it has available to it all the skills required to successfully tackle the restructuring process which is now under way and to attract new investment into the business. The appointment of Tim Bolot is key to this.”
The other appointments are:
• Frank McCormack, general counsel and company secretary.
• Amy Kroviak, director of communications.
• Andrew Sellers, group financial controller.
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