Buyer found for majority of Carter & Carter operations

The majority of operations operating under Carter & Carter have been bought out by Newcastle College, safeguarding many jobs and training courses.

The majority of operations operating under Carter & Carter have been bought out by Newcastle College, safeguarding many jobs and training courses.

However some 3,000 learners received their training from areas of the business which remain unsold. Administrators were called into Carter & Carter earlier this month after talks between the training company and their lending banks collapsed. Nick Dargan, who heads up the team of administrators from Deloitte and Touche, has said that in some cases where apprenticeships were being delivered on behalf of motor firms, training will resume in-house.

Deloitte refused to divulge how much the College had paid for the acquisition. However on Thursday they announced that Carter & Carter shareholders would not receive anything. The cancellation of the share listing is expected on Tuesday. At Carter’s peak shares were worth £12.73 but after falling to a fraction of that, they were suspended in October.

Newcastle College is the North East’s biggest FE institution, with some 35,000 students. It has been expanding nationally; last year the college merged with Skelmersdale & Ormskirk College and in December it acquired Lancashire based training provider TWL. It also has training offices in Leeds and Birmingham.

The LSC, who provided much Carter’s contracts by way of Train to Gain, has said it is working closely with the administrators, colleges, training providers and the voluntary sector to transfer those learners affected as soon as possible.

David Russell, National Director of Finance and Resources for the LSC said, “I am pleased that the uncertainty that has hung over this company for so long has finally been resolved. I am delighted that many thousands of learners can now complete their courses and achieve qualifications with Newcastle College. Our number one priority from here is to place all remaining learners in high quality training provision as quickly as possible.”

A dedicated helpline for all learners concerned or affected by the changes to the Carter and Carter Group plc, is being set up early next week.

Rosie Spowart