Care group Argus goes into administration
An Aberdeen-based care home company with more than 780 employees and 500 residents has gone into administration.
Argus Care Group operates 12 nursing and residential homes across Scotland.
There are three in Ayr, two in Aberdeen, and one in each of Peterhead, Turriff, Oban, Bishopton, Dunoon, Castle Douglas and Blairgowrie.
Accountants and business advisers PKF have been appointed administrators. The firm said buyers would be sought amid efforts to minimise disruption.
Bryan Jackson, corporate recovery partner with PKF, said: "We will continue to operate the homes as normal while they are in administration.
"We will ensure that all residents, their relatives, and staff are kept fully informed of any developments as well as notifying the relevant local and regulatory authorities.
"We appreciate that these are not like any other businesses but are the homes of the residents and ensuring there is continuity of care is our priority."
He added: "Unfortunately the group had debts and cash flow problems which were exacerbated by creditor pressures which led to the administration of the company.
"Whilst trading we will be seeking buyers for the business trading from the homes and will market them as going concerns."