The Retail
Motor Industry Federation (RMIF) is to buy back some parts of
the ReMIT training business from the administrators of Carter &
Carter Group, which collapsed following the death of its founder
and chief executive Philip Carter in a helicopter crash in May
2007.
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The RMIF said: “The administrators of Carter & Carter Group
plc have agreed to transfer the provision of non-manufacturer
apprenticeship programmes to the RMIF.
“The RMIF deal team has been working very closely with the
Carter & Carter Administrators, the Learning and Skills Council
(LSC) and other government training agencies to secure future
training provision for approximately 2,700 learners across England,
Scotland and Wales.”
More details will be released next week, the federation
added.
The sale of ReMIT to Carter & Carter in May 2006 for £25.5m
helped to plug a hole in the RMIF’s pension fund, although chief
executive at the time, Matthew Carrington denied that the sale was
part of a fund-raising exercise (click
here for more details).
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By GlobalDataThe majority of Carter & Carter’s assets were sold by the
administrators, Deloitte, on March 20.
Nick Dargan, partner at Deloitte
and a member of the Reorganisation Services team which is handling
the Carter & Carter administration, commented: “We are
delighted to confirm that we have successfully concluded a going
concern sale of a substantial proportion of the group to Newcastle
College, a well respected public sector educational college.
“The sale will safeguard the jobs of a significant number of the
employees and protects the on going training of thousands of
learners.”
Motor Finance Issue: 41 – March 08
Published for the web: April 4 08 16:31
Last Updated: April 4 08 16:32
