GWENT Nursing Homes Ltd, which owns the Caerleon House care home in Newport, has gone into administration.
Graham Randall, Chris Newell and Paul Zalkin of business advisory firm Quantuma have been appointed joint administrators.
They confirmed no staff had been made redundant as a result of the home entering administration, and said there were no planned staff reductions.
"Our immediate priorities are to ensure the business is maintained as a going concern and to seek a purchaser who has the financial ability to take the business forward on a more secure financial footing," Mr Newell said in a statement.
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“On August 13, 2019, we were appointed at very short notice as joint administrators to the company and receivers over the nursing home under the Law of Property Act," Mr Randall said in a statement. "Our immediate priority has been to start stabilising the business.
"In the first 36 hours we met staff, residents’ families, Aneurin Bevan University Health Board (ABUHB) and Newport City Council to ensure the 47 residents are receiving a high level of care and all statutory and regulatory requirements are being met.
"We have also engaged with Care Inspectorate Wales (CIW) and it is fair to say that there is relief amongst all stakeholders that we have stepped in to stabilise the business and secure its immediate future."
Earlier in August, the South Wales Argus reported how ABUHB, Newport council, and the CIW had stepped in to offer "practical support and financial assistance" at Caerleon House, following problems staff salaries.
Speaking at the time, Gwent Nursing Homes director Alan Darlow said a “cashflow situation” had caused problems at Caerleon House.
Mr Darlow was asked to comment on the company entering administration.
READ MORE: Turmoil at Newport care home where staff haven't been paid properly for two months
The business is currently on the market with Christie & Co who are seeking a buyer.
“It has been a very difficult period for staff, residents and their families during a period of uncertainty," Mr Newell said. "Feedback from the authorities on the level of care provided by staff has been excellent and their recent concerns have been entirely linked with the financial sustainability of the home."
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