ONE of Oxfordshire's biggest health providers is being investigated for "financial problems" resulting in a deficit of nearly £15m.

Oxford Health NHS Foundation Trust, which runs mental health services, community hospitals and community nurses across the county, is being investigated by hospital regulator Monitor for financial losses over the last two years.

Between April 2013 and March 2014 the trust, which runs The Warneford Hospital in Headington, recorded a £3.7m deficit.

According to its accounts between April 2014 and March 2015, the trust is £14.8m in deficit.

Monitor's regional director Paul Streat said: "Oxford Health lost money last year and the losses look set to continue.

"We know the trust has already been working hard to save money, but to date it hasn’t been enough to return the trust to a healthy financial position.

"We want to know what more it could be doing to be more efficient, and how local healthcare organisations could help it to improve its finances.

The body has embarked on some controversial cost-saving initiatives, such as closing kitchens in community hospitals across Oxfordshire in favour of cook-chill meals.

The trust has said this will save £300,000 but the move has been criticised by campaigners, which include Michelin starred chef Raymond Blanc OBE.

A spokesperson for Oxford Health said: "We fully understand the need for Monitor to investigate whether our planning assumptions about cost improvement and efficiency are achievable."