Challenging year sees Embrace’s losses soar

Turnover dropped 4.3% for hedge fund-backed care home operator Embrace Group for the year ended 30 June 2016 from £112.4m to £107.5m. Cost of sales reflected this falling to £76.9m (2015: £81.7m) but administrative expenses soared to £45m (2015: £27.3m) largely due to impairment on fixed assets of £22.7m (2015: £7.3m) following a review of…