The Corrin Memorial Home will close next month.
Government confirmed the news after talks to save the facility have been unsuccessful.
Officials say 'all parties' agree the home is 'unsustainable', and steps wil be taken to close it by July 19.
Now, teams from Manx Care and the DHSC are helping residents find alternative residential care.
Health Minister David Ashford has described the situation as 'regrettable'.
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