CHARITY ORGANISATION, Learning and Skills network has called in administrators from PwC.
Ian Oakley-Smith, David Hurst and Karen Dukes of PwC were appointed joint-administrators following a decline in income after public sector cuts.
Hurst, joint administrator and director at PwC, said: “The charity operates a number of businesses and has suffered a dramatic decline in contract income since 2009, with its funded programmes diminished due primarily to the cuts in government spending. As a result of the decline in income and significant pension liabilities within the charity, the trustees concluded that they were unable to continue and have placed the charity into administration.”
The charity currently operates five separate businesses including Technology for Learning, National Extension College, Education, Skills and Research, Development Services, Learning and Skills Development Agency (Northern Ireland)/Learning and Skills Network.
There has been a significant increase in the number of financially distressed charities approaching the firm for advice, said Oakley-Smith, joint administrators and head of charity advisory at PwC.
The charity employs 117 staff and has a turnover of about £13m for 2010/11.
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