Landlords owning all care homes in the Southern Cross Group have said they want to leave the group.
Trading in the company's shares has been suspended and it is believed the existing group will cease to be an operator of homes.
Nanette Milne MSP, Scottish Conservative Public Health Spokesperson, said:
"These are yet more concerning developments which will cause a great deal of anxiety and distress to elderly residents and their families. Many vulnerable older people face uncertainty about the future of these homes and this announcement will have them fearing for the future.
"Given the cross-border nature of Southern Cross it is vital the Scottish Government works closely with the UK Government and establishes a joined up approach. Our number one concern must be establishing a secure future for the many vulnerable older people affected."
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