Stride, the Leicester based social enterprise, is now taking steps to place the company into liquidation.
The company employs 40 core staff and 92 apprentices at its training centres in Leicester and Nottingham who will all be made redundant. The company also provided training for 200 young people in Construction Skills, Motor Mechanics, Hair and Beauty and Catering. All training has ended.
A winding up petition to the High Court made by HM Revenue and Customs meant the company had to go into creditors' voluntary liquidation, which is when a company chooses to liquidate itself when it can't afford outstanding debts.