Southern Cross, the health services company which failed spectacularly last year, had at least twenty residential care homes in South Wales, two of them in Neath Port Talbot borough. It seems from this piece in the Independent yesterday that the successor companies which took over its operations are no more transparent and not much less indebted than Southern Cross. HC-One, which runs Clwydi Gwyn in Skewen, is ultimately based in the Cayman Islands. There is still a possibility that the debt burden which dragged Southern Cross down could in turn see the end of its successors (NHP/HC-One owes £1.8bn).
The saving grace is that the law prevents residents being turned out on the street.