The credit crunch has forced property investment training firm Inside Track Seminars – which claims to have created hundreds of property millionaires – into administration.
Jeremy French and Glyn Mummery of Vantis were appointed joint administrators this week, according to the Financial Times. Inside Track said the credit crunch meant the business was no longer ‘sustainable’ despite the introduction of significant measures involving a number of redundancies and major cutbacks.
‘The action with respect to Inside Track seminars is regrettable but necessary. The company has seen a fall in the number of people who want to invest in the property market for the first time and that is understandable in the current climate,’ Tony McKay, managing director, said.
The other companies in the group, Instant Access Properties (IAP); AfterCare Solutions; Pay As You Grow; and Fuel Investments, are unaffected by the recent changes associated with Inside Track.
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