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:
Chance to have your say on NHS levy
Treasury Minister Alex Allinson says the public's views on a new health tax will mean it can be brought in properly.
Chance to meet Manx Care's feedback team
There's a chance to meet the team that provides feedback from patients to Manx Care this month.
Tributes paid after Pope's death
The Island's churches are paying tribute to Pope Francis, who died earlier today.
TV auctioneer in Douglas this week
There's a chance to meet a celebrity TV auctioneer this week - and get your items valued.
Former minister wants to prevent NHS privatisation
Former health minister Lawrie Hooper is to ask Tynwald to stop Manx Care privatising parts of the Island's health service.
Project hopes to help new arrivals to Island
A new project is hoping to find out how the Island welcomes new arrivals - and what they're looking for here.
Government rules blamed for motorsport firm's closure
A company running trackday events at Jurby says it’ll close immediately because of new government rules.
Villa Marina to mark VE Day celebrations
A free concert at the Villa Marina next month will mark the 80th anniversary of VE Day.
