Southern Cross extends loans

EMBATTLED care home provider Southern Cross said yesterday it has extended its banking facilities for another week, giving it breathing space while it continues its restructuring.

Southern Cross said the extension with lenders “will provide support for the process under which it is planned to transition homes to new operators nominated by Landlords”.

The firm yesterday handed over 35 care homes to the Maria Mallaband Care Group, safeguarding more than 2,000 jobs. The firm’s shares have been suspended since July.