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18 Feb 2010
One of the UK's largest training colleges and driving schools has entered administration.
MCR partners Andrew Stoneman and Paul Clark were appointed joint administrators of LVG Limited, which operates principally under the RED brand.
It employs 400 staff, with 250 based in RED's instructor training division. It also operates FTBC – an accountancy services for driving instructors business.
The company will trade as normal as the administrators pursue a buyer.
"We are confident a buyer will be secured as the most recent financial reports indicate the business has been quite a healthy and profitable operation. It only entered administration due to a lack of funding and investment," said Stoneman.
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good ridence
at last eh, the millinium dick turpins,well lets hope all that have invested their pensions into these robbers get it back
Posted by: mark membry, 19 Feb 2010 | 00:00