Councils flag concerns about 'excessive profits' at children's homes

Patrick Butler - The Guardian

"Councils have called for financial oversight of England’s privately-run children’s care homes after research showed some of the biggest private equity-owned providers were collectively making hundreds of millions a year in profits," according to this article from the Guardian. "The Local Government Association (LGA) also warned that the increasing indebtedness of some of the largest private providers risked triggering a Southern Cross-style financial collapse, potentially leaving vulnerable children without a home."