STEPHEN HUNT OF GRIFFINS APPOINTED ADMINISTRATOR TO QUALIA CARE LIMITED (QCL)
On Monday 10th October 2022 Stephen Hunt of Griffins was appointed Administrator to Qualia Care Limited (QCL), a company running 10 care homes in the north of England. https://www.qualiacare.co.uk/our-homes/
The Administration of the operating company follows Qualia Group’s property company moving into Administration with Griffins in August https://find-and-update.company-information.service.gov.uk/company/12937293/insolvency.
The current business was formed from a pre-pack sale in 2020 after Qualia Care Developments Limited and Qualia Care Properties Limited failed leaving over 700 investors owed in excess of £50m. There was an agreement in place for payments to be made to investors but that fell into default in December 2021. There was an attempt to rescue QCL outside of administration but it was discovered that large sums had been removed from its bank accounts just prior to our appointment. Attempts to recover those sums were partially successful but not in time to avoid administration.
The recent administration appointments are part of a plan to restructure the business and make an initial return to investors. Significant claims are being contemplated against third parties and there is an ongoing action by the FCA against the former director of the businesses regarding the allegation that the investments represented an unauthorised collective investment scheme. That trial is due to take place in April 2023. https://www.fca.org.uk/news/press-releases/fca-commences-high-court-proceedings-over-unauthorised-collective-investment-schemes
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