The residents of Saddle Mews Village have been told nothing will change for them as a result of the planned sale of their management company.

The Mews is a collection of resident owned properties in Douglas for the over-50s, who pay a management fee for the maintenance of communal areas and systems such as emergency alarms.

The Examiner was contacted by a resident following the announcement in the UK press that ’two holding companies behind Four Seasons Health Care, which operates 322 homes collapsed under debts of around £625m owed to a US Hedge Fund’ (Daily Mail, May 1).

The resident told us that they and their neighbours were concerned whether the situation would affect them and if their homes were safe.

However, a letter addressed to ’resident, family member or friend’, from chief executive Tim Hammond said there would be ’no changes’ to the care services it provides while a sale process is held.

In his letter Mr Hammond said: ’This is a decisive and positive next step in the restructuring to put the company on a sound financial footing that is sustainable in the long term.

’The most important point to make to you is that the sale will not have any effect on the day to day care provided within our homes to residents or on colleagues who manage the home and provide this care.

’The group has sufficient funding which means it can comfortably complete an orderly, transition to new ownership, while continuity of care and employment is maintained.’

In 2010, the company announced it had temporarily closed the care home at Saddle Mews to upgrade and renovate the building, however it was sold and has never reopened.