Any accountants who'd not mind helping-company gone under

[mymoneyplant]

I worked for a company who provided BTEC and other similar courses. I taught the courses.
They're now insolvent.
Students have paid various sizeable sums and now they cannot continue their courses.
I have to meet with them all soon to tell them this news which is going to absolutely devastate them.

Where do they stand in getting their (thousands of pounds) money back?

I am devastated for them, so awful that this has happened
Name changed for obvious reasons.

Can I ask but is this your first job? You come across as quite naive. You need to focus on your own job hunt.

@purplecorkheart yes you can. No it isn't. It isn't any of ours first job either nor are any of us naive. I'm uncertain why you've concluded what I 'need' to do.

We have also tried to see if we can set up our own education group to help them complete this course but have been advised that we cannot, due to 'red tape'. We would have been granted the license to do so, but this particular course has just taken on its last cohorts. By the time we had the measures in place we'd be beyond the deadline.

Regarding what has happened with this company and administration, it seems very dubious the longer I look into it. The company is still showing as active on Companies House.

The owner has also set up a new website.
I'm not sure what is occurring.

“Regarding what has happened with this company and administration, it seems very dubious the longer I look into it. The company is still showing as active on Companies House.”

It takes quite a long time for things to show up on co house sometimes. One I was involved in appointed administrators late Nov but this didn’t show up until late Jan at co house (date on administrator paperwork was correct though) Then they had a creditor meeting, went about selling off the assets, all was prolonged due to a complex loan situation and the company was finally dissolved more than a year later.

“The owner has also set up a new website. I'm not sure what is occurring”

It is possible the owner intends to bid for the assets of the company, including its trading name.

I agree. It's 100% normal for there to be a delay in information being published on Comanies House.

We have also tried to see if we can set up our own education group to help them complete this course but have been advised that we cannot, due to 'red tape'.

Who advised you? It doesn't sound as it you've taken legal advice about any of this.

This - you all en made need to refuse to do this

do not communicate with them refer it all to the course provider which is not you

Thank you all that's good to know, I've only ever known it be very quick.

The new website is a different business altogether.

The course provider advised my boss but then once it was further looked into, the nature of the course and the fact this is the last cohort meant we couldn't do it.

No we didn't take legal advice-we just asked the company who grant licenses for starting education businesses-they didn't mention any legalities needing to be involved in it at this stage.

The course provider have been less than helpful unfortunately.

We are all still marking any outstanding work-so that the students if they do find another course, can prove where they're up to with it.

No we didn't take legal advice-we just asked the company who grant licenses for starting education businesses-they didn't mention any legalities needing to be involved in it at this stage.

Do you mean Pearson or the regulator?

Hmm. I have a feeling I read about this on my professional sites.
I am really sorry for the students and staff. What a mess, and it's such a shame from my pov that there isn't proper regulation about setting up training courses.
If it's the same company, I did dismiss it for my training, as the business model looked unsustainable, and the fact they weren't prepared to get courses accredited.
I hope you are able to find some support, and that the providers who have offered to help students are able to. The students are lucky to have you caring about them.

@titchy We've spoken to Pearson as well as the DfE and the Governing Body of the practice the course would qualify them for. It is just a technicality as to why we can't set up alone. I am not sure why we'd need to seek legal advice for that particular matter at this stage especially.

Thank you @cloudglazer -it will be the same one. There's a petition I could share but I am not sure it is safe to here?

It didn't particularly concern me regarding the accreditation to be honest. There's a short (free) test at the end to be done and that's it-just a tiny hurdle compared to an accredited course, which I didn't see as a big deal. The organisation (apart from a small number at the very top) was full of absolutely lovely people who really cared and supported one another and the students. It is a total (avoidable!) mess I agree

I have seen and signed the petition. I hope the membership body offers support. I guess accreditation of the course might have made this a little less painful, but hopefully they will help anyway.

There is a F.£&!ok group set up for displaced students and I am sure there are tutors on there too, just in case you haven't found it yet.

Wishing you all success in getting support for the students.

What's the college, or membership body out of interest?

Thank you so much for your support @cloudglazer . It does help. 🌺
None of the tutors I worked alongside have joined the group you mentioned, purely out of respect for it being a 'safe space' for students if that makes sense?
Thank you for signing the petition too. :)