Norse care home sale to Stow Healthcare: council to clarify financial impact
Following the in-principle agreement to sell Norse's care operations to Stow Healthcare, councillors asked how the deal would be reflected in Norfolk Council's financial reporting. Officers have agreed to provide a written response to the committee.
Members of Norfolk County Council's Audit and Governance Committee asked on 10 February how the planned sale of Norse Group's care operations to Stow Healthcare would be reflected in the council's financial reporting.
Cabinet has already agreed in principle to the sale. Norse โ a company owned by Norfolk County Council โ had been withdrawing from the care market while continuing to record losses.
Officers confirmed at the meeting that the financial reporting implications were a separate matter from risk management, and agreed to circulate a written response to committee members.
No further details about the financial impact were confirmed at the meeting.
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