Tue, 07 Aug 2012 | ADMINISTRATION
Begbies Traynor has placed the Newcastle-based Bridge Organisation into administration due to a lack of funding.
The Bridge Training and Education Opportunities for Women was established in 1985 by a small group of women in Washington. It has offered education and training for local women ever since, as well as the provision of free quality childcare to help them access courses and qualifications.
Thousands of women have benefited from the vocational and non-vocational courses, which were offered through three centres in the Sunderland districts of Columbia, Sulgrave and Albany, along with an additional centre in Durham.
The group employed 110 staff but as a not-for-profit organisation it relied on fund raising, grants and charitable donations, which have unfortunately now dried up.
Gillian Sayburn, insolvency director at Begbies Traynor, commented: “Due to the changes and restrictions in central funding within education, the number of students has been steadily dropping over the course of the last year.
“In addition, Bridge has encountered problems itself with funding due to the general economic climate, leading to dwindling reserves. With no prospect of a positive change in future funding policy on the horizon, the board has taken the view that losses will continue to be accrued.”
She added that the board has been forced to investigate insolvency options because the majority of staff have been with Bridge for many years, making it impossible to reduce the workforce due to redundancy costs.
A well-established, profitable, freehold, all weather tourist attraction situated on a stunning harbourside location. The main focus of the business is a purpose- built public aquarium which is supported by a vibrant Café with Ice Cream sales, Themed...
FREEHOLD
The business occupies a central position in the much sought after town of Halifax, West Yorkshire, with the hotel located above the beautiful restaurant & bar.
The business has a renowned reputation in Leeds and further afield, and therefore attracts loyal and local customers from Leeds and surrounding conurbations, as well as those from further afield.
LEASEHOLD
15
|
May
|
Essex electric truck maker set to appoint administrators | ADMINISTRATION
An Essex-based company that produces electric trucks has fil...
15
|
May
|
Accountancy announces merger with Irish firm | MERGER
Audit, tax and business advisory firm MHA has announced a me...
15
|
May
|
Dorset and London law firms announce merger | MERGER
A law firm based in Dorset has merged with a London-based pr...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.