SETTLERS Group, the company behind WA retirement villages Settlers Lakeside and Settlers Ridgewood Rise, has entered voluntary administration.
Damien Hodgkinson, of DEM Asia Group, was appointed voluntary administrator of the group on Monday.
Yesterday Joseph Hansell, Ian Frances and John Park of FTI Consulting were appointed receivers and managers.
In a statement, FTI said the receivers and managers had taken control of the company and intended “to conduct the operations of the facilities on a business as usual basis” while trying to sell the companies.
“The receivers and managers intend to work with all stakeholders and Settlers Group service providers to ensure that there is no interruption in the delivery of services to the facilities operated by the Settlers Group or the residents,” the statement said.
“The receivers and managers intend to engage directly with the respective managers at each of the facilities in order to explain the nature and the expected outcome of the appointment.
“At the same time, the receivers and managers will also be available to meet with the residents at each of the facilities in order to explain the nature of the processes that are usually undertaken by a receiver and manager as part of a sale.
“At this stage it is too early to provide an estimate of the amount of time it will take to complete the receivership.”
A Ridgewood resident said the announcement was unlikely to affect residents’ lifestyles as the village was self-sustained.
“I don’t expect anything to come out of it other than the village may be sold to another company,” he said.