Southern Cross CEO reassures residents

Britain's largest operator of care homes for the elderly says it can no longer afford to pay the full rent on its properties.

Southern Cross, which looks after more than 30,000 residents, is facing financial problems after announcing huge losses.

Labour has called on the Government to come up with a plan to protect Southern Cross's residents.

Jamie Buchan is the CEO of Southern Cross and he told the BBC he does not ''see the company going under'' but said it is seeking more capital.

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