Struggling group goes into administration

TRAINING company Carter and Carter has announced it has to gone into administration putting 100's of jobs at risk.

The group, which operates from more than 100 locations across the UK and abroad, provides vocational learning services and skills training primarily under government funded contracts as well as outsourcing back office and other functions to the automotive sector.

The company approached Deloitte to manage the process after the collapse of debt-restructuring negotiations with its banks.

The directors had been endeavouring to secure a consensual restructuring of the group's financial affairs following two profit warnings last summer.

Its head office is based in Ruddington, Nottingham and the group has key locations in Derby, Sheffield, Peterborough and Hounslow.

It has a turnover of £125m, 2,500 employees and provides services to more than 27,000 learners in the UK.

Ten months ago the company's founder Philip Carter was killed in a helicopter crash.

Administrator Nick Dargan said: “It is clear that the Carter and Carter group has a number of tremendous businesses within its portfolio. However, it found it increasingly difficult to sustain the significant level of debt carried following its strategy of growth by acquisition.

“We are delighted with the co-operation given to our team by the management and employees, the Learning and Skills Council and the group's existing lenders.

“That has provided a stable platform to allow us to review all options available to secure the future survival of the group.”