Seven residential care homes in Northern Ireland, privately owned by the Four Seasons group, are to be closed.
The group is largest operator of private care homes in the UK.
The firm appointed advisers last month to carry out an emergency review of its finances.
Four Seasons has amassed a debt of over £500m, attracting annual interest payments of around £50m.
Cllr Darryl Wilson said: “It is now abundantly clear that the Roddens and other statutory care homes are playing an even more critical part in looking after our elderly and vulnerable citizens.”
“I would call upon the Minister to intervene in this crisis with immediate effect.”
Four Seasons confirmed the seven homes set to close are:
- Victoria Park Care Home, Belfast, County Antrim
- Stormont Care Home, Belfast, County Antrim
- Antrim Care Home, County Antrim
- Garvagh Care Home, County Londonderry
- Donaghcloney Care Home near Banbridge, County Down
- Oakridge Care Home, Ballynahinch, County Down
- Hamilton Court, Armagh, County Armagh