The company, which cares for 31,000 elderly residents across Britain announced would begin transferring its 750 homes to landlords and other care operators.

These include Larkland House, London Road, Ascot, and Murdoch House Care Centre, 1 Murdoch Road, Wokingham.

The Darlington-based company which employs 44,000 staff has an £311m in debts after failing to keep up with spiralling rent bills.

Chief executive Jamie Buchan said: "Although still subject to the possibility of further change, it is currently envisaged that the existing group will cease to be an operator of homes at the end of the restructuring period.

"It is also anticipated that landlords, lenders and, where appropriate, other residual stakeholders will agree the necessary measures to facilitate the orderly closure of the group's affairs and that little or no value will be attributable to shareholders." Have you or an elderly relative been affected by the crisis? Are you concerned about the impact of the firm's closure? Call 01344 456611 or email news@bracknellnews.co.uk You can also sign in to add your comments below.