MCR appointed administrators for UK's largest driving instructor colleges

MCR appointed administrators for UK's largest driving instructor colleges
- RED Brand trading as normal as buyer is sought -

Andrew Stoneman and Paul Clark, Partners at MCR, were appointed joint administrators of LVG Limited ("the Company") on 16 February 2010. It is one of the UK's largest driving instructor training colleges and third largest driving school.

The Company's head office is located in Brighton, with its principal activities carried out under the RED Brand. This includes RED Instructor Training, RED Driving School and RED Fleet Training. It employees 400 staff with 250 based in the RED Instructor Training division.

Andrew Stoneman, Partner, MCR, stated: "At present the Company is trading as normal while a sale of the business and assets as a going concern are pursued. 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. It only entered administration due to a lack of funding and investment."

The Company offers accountancy services to driving instructors under the FBTC brand and publishes ADI News, a monthly Driving Instructor industry magazine. A sales memorandum has been produced and any interested parties should contact Charles Walder at cwalder@mcr.uk.com as a matter of urgency.

About MCR

MCR was formed in April 2001 to offer turnaround, restructuring and insolvency services of outstanding quality to banks, lenders, business owners and individuals in the mid-market sector. It aims to provide the most practicable ways to resolve issues affecting business performance.

The firm has 12 partners who practice an ethos of high-level involvement to ensure that each assignment capitalises upon the expertise and knowledge of the whole team.

MCR regularly handles significant projects across a range of sectors and has been involved in a number of high profile cases. MCR is increasingly being asked to restructure businesses and find turnaround solutions to help companies avoid formal insolvency. Sectors include property, retail, financial services, manufacturing, printing, recruitment, hotels, leisure, automotive, telecommunications, music, entertainment and construction.

For more information, www.mcr.uk.com

Press contacts:

Richard Merrin / Luke Derbyshire
Spreckley Partners Limited

T: 0207 388 9988
E: merrin@spreckley.co.uk
E: derbyshire@spreckley.co.uk