A director of the Corrin Memorial Home has revealed it costs in the region of £100,000 per month to run the site.
The private company that operates the facility is facing insolvency and has to legally cease trading by the end of July.
Tynwald members passed an emergency motion on Tuesday gives the 21 residents at the home at least six-months notice before they are relocated.
Alan Jones admitted the board has known of financial difficulties for at least two years:
Hose under the hammer, your chance to drive home a real fire engine!
Fancy driving home a fire engine this weekend?
'Once-in-a-generation’ estate hits the market for a £16.5 million
A property described as a 'once-in-a-generation' estate on the Isle of Man has been put up for sale.
Event to celebrate women in farming
The Department for Environment, Food and Agriculture is inviting people to an event celebrating women in farming.
Engineers confirm source of gas smell in Ramsey
Reports of a gas smell in Ramsey yesterday prompted engineers to carry out emergency works.
MHK questions if Island phones will get national warning alert
Will Island residents receive a test national warning alarm on their phones?
Trainee officers take on 40 mile kayak mission
Student constables will tackle a 40-mile kayak challenge this weekend for charity.
Join the RNLI team and help keep our waters safe
Ever wanted to join the RNLI? Well now's your chance!
Ramsey fireworks cancelled
A planned fireworks display in the north of the Island has been cancelled this weekend due to bad weather.
