Administrators from Grant Thornton have been appointed to St Ursula’s High
School Trust following a request from its board of trustees.
Nigel Morrison and Trevor O’Sullivan are now handling affairs at the school.
St Ursula’s collapsed because of a decline in student numbers from circa 400
pupils to about 160. O’Sullivan said the school was no longer “financially
viable” in this format.
“Whilst the trustees have made every effort to find a potential purchaser
capable of delivering a sustainable school operation, unfortunately this has not
been achievable in the context of the many constraints and short timescale
available,” said O’Sullivan.
“As a result, there is no available funding and the Trust has been unable to
meet July salary payments. Consequently, the school will close,” he added.
O’Sullivan said the administrators would provide “every assistance” to
parents to help them find alternative places for their children including
liaising with local authorities.
The school, which is co-educated, is located in Westbury-on-Trym in Bristol.
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By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Peter Saville, Ryan Grant and Anne O’Keefe of AlixPartners will now become the supervisors of the CVA and monitor the implementation of the proposal