INSOLVENCY specialist Quantuma is handling the liquidation of a school in Cardiff providing English language programmes for foreign students, which has ceased to trade after hitting financial difficulties.
Graham Randall and Mark Roach from Quantuma were appointed joint liquidators on 21 October 2015.
Ciris Language School Limited, which traded as inlingua Cardiff, mainly taught students provided by Middle Eastern embassies. The company was historically successful, achieving annual profits in excess of £200,000. However changes in visa requirements imposed by the UK Border Agency resulted in an unsustainable reduction in student numbers.
The company also encountered serious structural problems with its former trading premises last year that did not get resolved, resulting in losses and a move to more suitable premises, Quantuma said.
Graham Randall said: “With falling student numbers resulting from changes in visa requirements and the recent illness of the managing director, the company was forced to consider its options.
“The directors made the difficult decision to close the school as trading showed no signs of immediate improvement and the joint liquidators are taking all possible steps to mitigate losses to students and we are seeking to maximise recoveries for the benefit of all creditors.”
AIM-listed Bond International Software has had Kingston Smith and Partners appointed as liquidators.
Big Four firm Deloitte has announced its investment in blockchain start-up SETL as well as a partnership with VTC Group
The restaurant chain Bar Soba is planning expansion after a £3m Business Growth Fund (BGF) investment
More than 5,000 restaurant companies are at risk of insolvency as Brexit raises costs