Newcastle College Saves 1,500 Carter & Carter Jobs Following Advice From Begbies Traynor

Around 1,500 jobs have been saved after Newcastle College purchased the majority of training company Carter & Carter Group’s operations following advice from Gerald Krasner, a partner at business rescue, recovery and restructuring specialist Begbies Traynor.

The final acquisition was completed on 21st March at 4pm for an undisclosed sum.

The deal marks the end of a troubled year for the group after founder Philip Carter, was killed in a helicopter crash last May. The company went on to issue three profit warnings until administrators were appointed after its lenders finished restructuring talks.

Gerald Krasner commented: “The purchase is a sound move by Newcastle College, as it fits in with the college’s strategy of becoming the training provider of choice for businesses.

“The acquisition will expand the college geographically and also ensure that certain costs are saved due to the similar nature of training that both the college and Carter and Carter Group provide.”

Carter & Carter Group operates at more than 100 locations in Britain and abroad, providing employability skills training and vocational training, primarily under government-funded contracts.

Begbies Traynor is part of the Begbies Traynor Group plc which is an AIM listed specialist professional services organisation, providing independent professional advice and solutions to businesses, financial institutions, the accountancy and other professions and individuals in areas of finance, recovery, investigation and risk management, specialist financial advice and commercial finance.