Administrators revealed at collapsed private school
Administrators have been revealed at a stricken private school in Nottingham.
Philip Harris and Nathan Jones of FRP Advisory were appointed as joint administrators of the Iona School Association in the Sneinton Area of the city on September 23.
Earlier that day, Iona School had submitted court documents filing for administration via law firm Irwin Mitchell.
A spokesperson for FRP Advisory told TheBusinessDesk.com: “The organisation managed The Iona School, an independent primary school in Nottingham, which closed on 20th September. Regrettably, all 11 employees of the school have been made redundant and are now being supported by the administrators in their engagement with the Redundancy Payments Service.
“The appointment follows a period in which the school experienced cashflow challenges related to rising operating costs and a decline in pupil numbers.”
The administrators are now expected to seek expressions of interest regarding the school estate.
The Iona School, which ran an alternative curriculum to state schools, closed its doors on Friday (September 20) and held a closing ceremony on Sunday 22.
Just weeks ago, the school had warned it could face closure over the Government’s plans to start adding VAT at 20% onto school fees from January 1 next year.
The Iona School had 62 students who learned under the Steiner method of teaching. It cost parents £8,161.80 to send their children to the school each year.
At the beginning of August, head teacher Rob Stafford told the BBC: “If we receive no more applicants, the school faces a £120,000 shortfall for the upcoming academic year.
“Half of the students here have places that are financially subsidised, and we’ll be forced to offer less of these places. Those students have been forgotten.”
