CVR Global looks at the books for failing school

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Lee De’ath and Richard Toone, partners at CVR Global, have been appointed joint administrators of Lexden Centre (Oxford) Ltd, trading as Colchester English Study Centre (CESC), after declining student numbers at the foreign language school resulted in significant losses

The administrators have confirmed they are in talks with a number of parties interested in taking over the school and are working with English UK, the national association of accredited English language centres, to minimise disruption to students.

De’ath said: ‘The school continues to operate and we are working with the existing management team to attempt to find a long-term solution for the school to remain open.

‘The school was established in 1969 and historically has a very strong reputation.  Unfortunately due to a number of factors, including increased competition in the market, it has struggled with declining student numbers in the last few years.’

There is sufficient funding secured to enable the school to continue to trade and deliver summer school programmes, but the administrators warned that if no one can be found to take over the school it will have to close.

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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