Insolvency firm MCR has been appointed to find a buyer for LVG, a driving school and instructor training business.
Insolvency firm MCR has been appointed to find a buyer for LVG, a driving school and instructor training business trading principally under the RED brand.
MCR partner Andrew Stoneman says the business entered administration due to ‘a lack of funding and investment’.
Stoneman adds, ‘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.’
Brighton-based LGV employes 400 staff, including 250 in the RED instructor training division. Other activities of the company include providing accountancy services to driving instructors and publishing a monthly industry magazine.
Interested parties are asked to contact Charles Walder.