Qube Learning has left creditors owed almost £3 million worth of debt following its collapse, new insolvency documents show.
FE Week revealed at the end of March that the company, which was one of the country’s largest training providers, ceased trading without warning, leaving hundreds of staff and thousands of learners in the dark about their future.
Qube’s statement of affairs, published this week by voluntary liquidators Interpath Advisory, outlined the extent of its insolvency. Creditors will be left over £2.95 million out of pocket following the sale of the failed company’s assets.
Owner Claire Whichello told staff in an email when it shut down that there was “too much uncertainty” to continue trading due to “increased competition in the apprenticeship market, challenges regarding stagnant funding bands, uncertainty around adult education budget contracts and the expected expiry of our traineeship contracts”.
