A HOSPICE is facing a potential crisis after losing £64,000-worth of shares in a fortnight.

Nottinghamshire Hospice held £257,000 of shares in the stock exchange and used the money to nurse terminally ill patients.

But its investments have plummeted to £193,000 – and now the charity only has enough funds to last until March next year. It took the decision to transfer the money to British banks because it feared further loses.

The charity is also down on donations and sponsorship, while no legacies – donations left in someone's will – have yet been received this year.

Chief executive Beverley Brooks said: "There are less donations. Corporate sponsorship has dropped. It has been a real shock.

"We have got to build up, somehow, what we have lost. We are absolutely determined that the service to patients will not diminish in quality or quantity.

"We are safe up until the end of the financial year. But if we spend that cash we will then be struggling.

"We will be in a crisis if we don't do something now."

Asked about the future of the hospice in Woodborough Road after March, she said: "There is a massive question mark. Every member of staff will be trying to raise more money. Every pound the charity gets is a pound towards patient care.

"We are all pulling together. We are doing everything possible.

"We are really pulling our belts in and making cuts where we can."

The amount lost in shares equates to 3,000 hours of nursing care for outpatients or 500 days of nursing and holistic care.

An appeal is set to be launched next month, named Hospice Hope, to drum up badly-needed funds.

Staff will approach businesses asking them to sponsor patients.

Cost cutting measures are currently being drawn up after a meeting with staff.

Travel expenses will be reduced by allocating outpatients to the nurses they live closest to.

Energy saving measures will also become a priority for staff.

The hospice opened in 1980 and offers medical and nursing support, physiotherapy, counselling, day trips and more.

Between April 2007 and March this year it had 1,018 patients needing 19,705 hours of care.

Running cost are £2.4m a year – 75% of which comes from donations, fundraising events, charity shops and the hospice's own lottery.

Ms Brooks added: "In the past, we were able to spread our reserves carefully across a number of options, including investments.

"But we are still heavily feeling the impact of the downturn.

"We appeal to Evening Post readers and the wider community to support us at this volatile time."

Visit www.nottshospice.org or call 0115 910 1008 to help.