Multiple jobs salvaged after Liverpool language school is bough out of administration
Several jobs have been saved after a Liverpool-based language school has been bought out of administration in a pre-pack deal, a news report in the local business media has been able to suggest.
Founded in 2004, the Liverpool International Language Academy (LILA) entered administration on 18 January 2017. The company specialises in providing English courses ranging from two weeks to a full year or more to overseas students.
Based centrally on North John Street opposite the Beatles-themed Hard Days Night Hotel, LILA opened a second branch at Canada Water in London in 2014. However, LILA London was hit by a contraction in student demand for international English courses and a year later the company announced that the school would close, with Lee explaining at the time that "we couldn’t reach the numbers we needed to make it work".
Now a newly published statement of administrator’s proposals, dated 25 January 2017, has revealed the impact of LILA London’s closure on the wider company.
It said: "The directors took the decision to close the London school in September 2015 and located a new tenant for the site that covered the costs of the remaining term of the lease. However, the initial fit-out of the London school and its subsequent closure left the company with significant liabilities that the company has served over the last few months but has continued to drain the company’s resources.
"In recent weeks, the company has come under increasing creditor pressure."
On the same day that it entered administration, LILA’s business and assets were bought in a pre-pack deal for a total consideration of £69,858 by LILA Liverpool Ltd. All 26 employees transferred over as part of the deal.
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