BusinessBusiness RecoveryRED driving instructor school enters administration

RED driving instructor school enters administration

RED at the crossroads as MCR appointed administrators

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.

Further reading:

Moore
Stephens appointed to insolvent Reader’s Digest

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

3d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

3d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor