According to a comment from Simon Jarvis
Firstport Retirement have been purchased by McCarthy & Stone. Though at this precise moment About Firstport cannot confirm this, several indicators would appear to add substance to this?
In January 2018 Paul Lestor the CEO of former Firstport owners Knight square joined the board of McCarthy & Stone.
Following the refunding of Firstport by Equistone who "lent" £81m to keep Firstport trading when on the point of collapse "liabilities" were transferred to the property management division leaving the telecare/warden call division free of debt. Equistone exist to make a profit on assets and have a reputation for being ruhless in the pursuit of profit. So selling Firstport Retirement would be part and parcel of their normal asset stripping strategy. In the last few days McCarthy & Stone have restructured their shares, which could have been used to fund a large purchase?
Were this to be confirmed, McCarthy & Stone will be inheriting a huge financial and administrative mess, that will impact on residents.
Looking back over many years , it was the abusive relationship between McCarthy & Stone and Peverel/Firstport (under Tchenguiz) where the freeholder and managing agent were in reality one and the same that gave rise to the many issues residents now face?
