Creditors set to miss out as training firm goes under

A change in payment times from one of its biggest customers helped push a Chesterfield training firm into administration, according to documents seen by TheBusinessDesk.com.

Slic Training, a Chesterfield training firm that employed over 50 people, appointed Begbies Traynor as administrator in March.

Slic had been trading well and moved into larger premises in Chesterfield. All was well until the customer altered its payment arrangements. This led to Slic entering into a time-to-pay agreement with HMRC, but the impact on the firm’s cashflow meant it soon fell behind with these payments.

Slic went into administration being owed nearly £81,000. So far, just £500 has been collected by administrators.

Unsecured creditors are owed £233,381, with administrators pessimistic that any will see their money.