Chase Farm Hospital's decision to sell a valuable plot of land may prove to be short-sighted.
Health bosses have said the hospital trust's headquarters and adjacent car park are likely to be sold to a developer for a substantial sum in order to reduce it's debt.
They claim the asset-stripping is necessary to reach a secure financial position to encourage private sector partners to join a potential PFI scheme.
But the problem with selling off the family silver is that you cannot keep doing so - there comes a time when your assets are stripped to the bone.
Chase Farm Hospital's history of financial mismanagement may have led to a situation where prized land is sold and the future of services such as the accident and emergency department are threatened. But the only long-term solution to the cash crisis is prudent financial management across the board.
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