Carter & Carter go into administration

Carter & Carter, one of the UK’s largest training providers, has called in the administrators.

The company had announced in February that it was in negotiations with its bank regarding restructuring. However, these negotiations have now been terminated and with a lack of other options, the company today went into administration

Carter & Carter, one of the UK’s largest training providers, has called in the administrators.

The company had announced in February that it was in negotiations with its bank regarding restructuring. However, these negotiations have now been terminated and with a lack of other options, the company today went into administration

Carter & Carter have had a rapid reversal in fortune since their founder, Philip Carter, was killed in a helicopter crash in May last year.

Shares crashed in July when it failed to win any of the 15 contracts it bid for from the Department for Work and Pensions under the Pathways to Work project. In October shares were suspended in the company as they issued a third profits warning. Resignations from the Board, insufficient learner records and an audit by their accountants have added to the company’s woes. Publication of their results for the 12 months to end of July 2007 have yet to be published.

The training provider has said it will seek to work closely with the administrators, the Learning and Skills Council and the Department for Work and Pensions to minimise the effect on learners, clients and employees. Carter & Carter employ 2000 employees and their jobs may now be in doubt.