Published 11/8/08
Trust placed into liquidation
Today, Monday 11th August, we received confirmation that Gateway School of Recording has been placed into liquidation.
According to a press release issued this morning, the organisation (Gateway Sound Education Trust Limited) was placed into liquidation with £846,056 owed to unsecured creditors and £16,088 owed to employees, who are now preferential creditors. The statement also said “there are currently 118 students who are now without courses for September, including 36 who have paid course fees in advance and will now rank as unsecured creditors”.
Gateway was established in 1976 as a not-for-profit organisation, and was one of the first schools of its kind to be established in the UK. In 2006, the school moved from its former home at Kingston University to a new facility in Clapham, which it shared with pro audio retailer Digital Village.
This morning’s press release states that “the burden of the cost of the move coupled with ongoing debts from their time at Kingston, forced the trustees to take advice with regard to the school’s ongoing financial position”.
If you have been affected by the closure, contact Julie Beavis at Mitchell Charlesworth chartered accountants on +44 (0)161 817 6100.
Keep checking back to the SOS news pages for further information on this story.
www.gsr.org.uk
Today, Monday 11th August, we received confirmation that Gateway School of Recording has been placed into liquidation.
According to a press release issued this morning, the organisation (Gateway Sound Education Trust Limited) was placed into liquidation with £846,056 owed to unsecured creditors and £16,088 owed to employees, who are now preferential creditors. The statement also said “there are currently 118 students who are now without courses for September, including 36 who have paid course fees in advance and will now rank as unsecured creditors”.
Gateway was established in 1976 as a not-for-profit organisation, and was one of the first schools of its kind to be established in the UK. In 2006, the school moved from its former home at Kingston University to a new facility in Clapham, which it shared with pro audio retailer Digital Village.
This morning’s press release states that “the burden of the cost of the move coupled with ongoing debts from their time at Kingston, forced the trustees to take advice with regard to the school’s ongoing financial position”.
If you have been affected by the closure, contact Julie Beavis at Mitchell Charlesworth chartered accountants on +44 (0)161 817 6100.
Keep checking back to the SOS news pages for further information on this story.
www.gsr.org.uk
