NAC Group Holdings Limited (14088465): administration
- Status
- Administration ended
- Administration began
- 2024-06-11
- Administrators' firm
- Begbies Traynor
- Formerly
- Ensco 1451 Limited
- Incorporated
- 2022-05-05
- Location
- Leeds
- Industry
- 74990 Non-trading company
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 5 May 2022 as a holding company for the NAC group of companies (‘the Group”) to facilitate a management buyout of the Group in November 2022 funded by SCRP Fund | Finance (“Shard”) who invested approximately £9m into the Group. Following the acquisition of the Group, Ms Lisa Snaith and Ms Margherita Pasquariello were appointed as directors of the Company. Ms Snaith had the role of Head of Finance while Ms Pasquariello had the role of Chief Strategy Officer. In June 2023, the Group’s board appointed Mr Steve Pallas and Ms Lindsey Vickerson as directors.
The Group, trading as NA College, operated as an independent training provider specialising in Engineering, Advanced Manufacturing and Logistics, with the exception of UK Community production Limited, which produced single use face masks. The Group’s business model included apprenticeships, short courses funded by the Adult Education Budget as well as commercial ad-hoc training offers. The Group was a member of the North East Institute of Technology (“the Institute”) and was the only private training provider within the Institute.
The Group consisted of the Company, as holding company for the Group, followed by a number of subsidiaries. The below chart illustrates the organisational structure of the Group.
Administrators' statement of proposals (2024-07-31) · Companies House register