Education - case study
Administration of an adult training organisation
- Sector – Education
- Number of employees - 49
Situation
The Company had been spun out of a Further Education College (‘FEC’) but which retained its position parent company/majority shareholder and thus funder of last resort.
This increasingly strained the parent FEC’s resources as its subsidiary’s own revenues were threatened by funding changes.
Approach
The subsidiary entity was placed into Administration and we assisted the Skills Funding Agency (“SFA”) in their reallocation of learners to successor training firms.
Impact
Through our joined-up approach with the SFA, they were prepared to pay the due debt to the Company, which enabled the parent FEC to recover some of its outstanding loans.
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