the lost Eldorado of senior residences

Supply is overflowing, the public is not coming, and margins are collapsing, eaten away by inflation. The number 2 in the sector, Réside Etudes Senior, has filed for bankruptcy, and other players are also suffering.

We lack everything. The situation is untenable. Priscilla Guider, deputy director of a residence for the elderly in Reims, has a heavy heart. For months, difficulties have been piling up at her Les Girandières establishment, a well-known name in the sector, which houses several dozen elderly people. Réside Etudes Senior (RES, 1,200 employees), which owns Les Girandières as well as the Palazzo brand, is riddled with debt – around 80 million euros in liabilities declared last December. It has been in receivership since June, and is continuing to operate, offering a range of services to residents – catering, reception, laundry, entertainment… – and paying rents to investors who own the units.

Everything takes a long time, and when a piece of equipment breaks down, it’s no longer repaired because companies are afraid they won’t get paid”, laments Priscilla Guider, also an employee representative on the group’s works council. In Orléans, where the air-conditioning in a technical room dedicated to calls in the event of a fall has been out of order for several months, employees have to make do. “ We’ve installed a back-up air-conditioning unit that spits hot air into the corridor, but it runs 24 hours a day and can fail at any time.worries Jean-Paul Vaysset, manager of the Orléans residence. The estimate has been validated by management, but the heating engineer is telling us: ‘until I get paid, I’m not coming in’. “Traditional day-to-day management activities are handled locally, and continue to benefit from operational services from head office, the Group defends itself.

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