Housing market difficulties force emergency meeting with bankers Rothschild to discuss ways to restructure debt
Retirement homes specialist McCarthy & Stone has called in bankers NM Rothschild to restructure its £800m debt, according to the Independent on Sunday.
Possible moves are thought to include delaying key repayment dates, which run from 2012 to 2014.
The £458m-turnover business has been hit hard by the troubles in the housing market in recent weeks. Last month, it announced it was axing up to 10% of staff and scaling back on its regional operations.
HBOS, which owns 20% of the firm as well as shares in Miller and Crest Nicholson, is now under pressure from shareholders to reveal details about its exposure to the embattled housebuilding sector.