Callan Education Group Limited (08072199): administration
- Status
- Administration ended
- Administration began
- 2015-12-07
- Administrators' firm
- Quantuma
- Formerly
- Callan Method Holdings Limited
- Incorporated
- 2012-05-16
- Location
- Dartford
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Sustained trading losses
From the administrators' statement
CEG supported each of Its subsidiary companies in each of its development programmes as it considered that this was in tts best interests These investment strategies were based upon the principal that CSL would be able to return tn short order to generate the cash flow that it had in the past
The CSL business model was also changed which 1s believed to have affected the student experience and contributed to a decline in student numbers
CEG's Board knew that investment would need to be made in the business and therefore in January 2015 it started seeking externa! funding, reducing its investment programmes whilst it did so The Board had numerous meeting with potential investors In addition CEG was able to secure lines of credit which, if ail things had remained as planned, would have enabled CEG to keep trading until the investment was found However, the substantial reduction in trading in CSL in summer 2015 meant that
Administrators' statement of proposals (2016-02-04) · Companies House register