Care home operator seeking £100m

Southern Cross, the crisis-hit care home operator, is looking to raise £100 million as part of efforts to secure its future. A restructuring plan drawn up by chief executive Jamie Buchan could also see it jettison up to 200 homes and give landlords a share of the business.

Adviser Greenhill is understood to be leading the search for potential investors, including private equity groups and US healthcare multinationals, in the hope of securing cash to pay down debt.

Southern Cross is the UK's biggest residential care home operator.