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:
New laws for young workers come into force today
New government regulations strengthening protections for children in part-time work have come into force today, Wednesday, April 1.
Manx Care extends mental health service to more surgeries
Manx Care's announced it's expanding a new mental health service to nine more GP practices.
Bus Vannin confirms normal services to run over Easter
Bus Vannin says services will be running as normal during the Easter weekend.
Steam Packet's new Northern Irish route launches today
The Steam Packet's officially launched its new Northern Irish route.
Creamery reassures milk buyers over price rise
Isle of Man Creamery has moved to reassure customers over the price of its milk.
April fool - did you get caught this morning?!
The Isle of Man's seen its fair share of online pranks this morning.
Tea room shuts its doors for good
A tea room in the west of the Island has announced it's closed down.
Milk up more than 5p a pint from today
The price of milk has risen by almost twice the rate of inflation today.
