More than 30 jobs have been saved after a well-known driving school headquartered in Yorkshire was rescued from administration.
Administrators from KPMG were appointed to Ripon-headquartered Bill Plant Ltd after the company suffered exceptional costs associated with a change in operating model.
The national business, which was established by armed forces veteran Bill Plant in 2004, has 530 franchisees across the UK, including in London and Edinburgh, and it had a £6m turnover.
Howard Smith and Jonny Marston of KPMG were appointed joint administrators of the business on 27 April and oversaw a deal that has safeguarded all 31 jobs at the company.
The joint administrators facilitated a pre-pack sale of the business and all assets to another Yorkshire business, Ecodot, a specialist in car vehicle preparation and dual control vehicle hire.
Ecodot is is now trading as Bill Plant Driving School Ltd.
Howard Smith, associate partner at KPMG and joint administrator, said: “This transaction saves jobs and enables the driving instructors to continue operating within the Bill Plant driving instructor franchise network, and those within the Bill Plant instructor academy to complete their training.”
The sale of both the business and assets of the company included the transfer of all employees and there was no interruption to trading, all franchise and trainee agreements will transfer to Ecodot as part of the sale.
Andy Stirk of law firm Bond Dickinson acted for the joint administrators.
Original source: Insider Media
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