Wednesday, March 06 11:08:24
Castlebeck, the company at the centre of a scandal into physical abuse and neglect at one of its care homes owned by Lydian Capital, an investment club that includes Irish tycoons John Magnier and JP McManus, has gone in to administration.
Eleven care workers admitted a total of 38 charges last year after they were secretly filmed abusing patients at Winterbourne View near Bristol in England.
Administrators Grant Thornton have been brought in to manage the process.
Castlebeck has 20 care centres left in England and Scotland and was bought for £255 million in 2006 by wealthy Irish investors led by Denis Brosnan who later brought in other investors including Magnier and McManus.
More than 200 people with learning disabilities or mental illnesses are patients or residents at 20 high-dependency units run by the company.
These will remain open while administrators Grant Thornton seek to sell them piecemeal.
Daniel Smith, partner at Grant Thornton, said: "A number of prospective purchasers have already shown their interest in acquiring Castlebeck operating units, which will continue to operate and trade normally while such sales are progressed and new owners for the operating units emerge."