Thu, 26 Jan 2012 | ADMINISTRATION
Administrators are exploring sale options for the West Midlands charity, BXL Services, after it fell into administration.
The charity, which works to find education and training opportunities for thousands of young people in Birmingham and Solihull, filed for administration after being unable to overcome problems regarding its pension deficit payments.
Administrators from PricewaterhouseCoopers are said to be working with a number of potential buyers in the region, according to the charity’s chief executive, John Ling.
“We have been battling against a substantial pension deficit for some time, one that we unfortunately inherited as part of the local authorities of Birmingham and Solihull taking over the Connexions contract in 2008,” Ling explained in a statement.
“The board and our management team have explored every opportunity to find a solution to this problem, but all avenues have now been closed. Working with the administrators, we have identified a number of local organisations who have shown an interest in acquiring the operations of BXL.”
BXL employs 26 staff and supports around 20,000 young people up to the age of 19 in the region every year. From its base at the Centenniel Centre in Birmingham, it forges work experience placements, operates work-related training programmes in schools, and runs two education centres with local manufacturer, Jaguar Land Rover.
This is a unique opportunity to acquire a well-established company with a strong reputation in the insurance market, known for its quality work and professional service. The company offers an excellent bolt-on opportunity for expansion into the North...
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This client is a well run, established firm coming to the market with a view to finding a supportive and professional practice to take over current client and staff relationships.
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