ST John's-On-The-Hill and Brightlands School Trust Ltd (00643994): administration
- Status
- Administration ended
- Administration began
- 2015-07-06
- Administrators
- Alistair Gareth Wardell, Nigel Morrison
- Administrators' firm
- Grant Thornton
- Formerly
- St.John's-On-The-Hill School Trust Limited
- Incorporated
- 1959-12-09
- Location
- Manchester
- Industry
- 85200 Primary education
From the administrators' statement
During December 2014, an accelerated marketing and sale process was undertaken and 12 potentially interested parties were apptoached by VWV Eight of these parties signed confidentiality letters with Grant Thornton UK LLP and were sent information about the Company However, at the end of this process only one offer of £500,000 for the Company's business and assets was recetved The offer was too low to be acceptable and was reyected
On 18 December 2015, a meeting was held between the Governors and the Bank The Company presented the Bank with a cash flow forecast to the end of the 2014/2015 academic year Following a review of the Company's cash flow forecast by KPMG LLP, the Bank agreed to provide £120,000 of additional lending to enable the Company to continue to trade into the Faster term and explore 1ts options more fully
On 28 January 2015 Grant Thornton UK LLP was engaged to create an action plan for the Company, outlining the potential options available to address tts financial situation These options included:
Administrators' statement of proposals (2015-07-30) · Companies House register