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Driving school in administration Driving school in administration
(10 minutes later)
The parent company of driving instructor business Red Driving School, the UK's third largest, has gone into administration.The parent company of driving instructor business Red Driving School, the UK's third largest, has gone into administration.
LVG will continue to trade as normal while administrators look for a buyer to take it on as a going concern.LVG will continue to trade as normal while administrators look for a buyer to take it on as a going concern.
LVG employs 400 people in total across three offices, but all the Red Driving School drivers are franchisees.LVG employs 400 people in total across three offices, but all the Red Driving School drivers are franchisees.
It also owns two other businesses under the Red brand - Red Instructor Training and Red Fleet Training.It also owns two other businesses under the Red brand - Red Instructor Training and Red Fleet Training.
Red Instructor Training trains would-be driving instructors, and Red Fleet Training is employed by companies to test and improve the driving skills of their employees.Red Instructor Training trains would-be driving instructors, and Red Fleet Training is employed by companies to test and improve the driving skills of their employees.
'Profitable operation'
LVG's 400-strong workforce includes 200 people at its head office, and 150 spread across two "operational support facilities" in Liverpool and in Billingham near Middlesbrough.LVG's 400-strong workforce includes 200 people at its head office, and 150 spread across two "operational support facilities" in Liverpool and in Billingham near Middlesbrough.
"We are confident a buyer will be secured as the most recent financial reports indicate the business has been quite a healthy and profitable operation." said joint administrator Andrew Stoneman of MCR."We are confident a buyer will be secured as the most recent financial reports indicate the business has been quite a healthy and profitable operation." said joint administrator Andrew Stoneman of MCR.
"It only entered administration due to a lack of funding and investment.""It only entered administration due to a lack of funding and investment."
LVG was founded in 1992 and also owns three other main businesses. These are accountancy arm FBTC, driving instructor trade magazine ABI News, and Practical Driver Instructor Aids.