Tue, 07 Aug 2012 | ADMINISTRATION
Begbies Traynor has placed the Newcastle-based Bridge Organisation into administration due to a lack of funding.
The Bridge Training and Education Opportunities for Women was established in 1985 by a small group of women in Washington. It has offered education and training for local women ever since, as well as the provision of free quality childcare to help them access courses and qualifications.
Thousands of women have benefited from the vocational and non-vocational courses, which were offered through three centres in the Sunderland districts of Columbia, Sulgrave and Albany, along with an additional centre in Durham.
The group employed 110 staff but as a not-for-profit organisation it relied on fund raising, grants and charitable donations, which have unfortunately now dried up.
Gillian Sayburn, insolvency director at Begbies Traynor, commented: “Due to the changes and restrictions in central funding within education, the number of students has been steadily dropping over the course of the last year.
“In addition, Bridge has encountered problems itself with funding due to the general economic climate, leading to dwindling reserves. With no prospect of a positive change in future funding policy on the horizon, the board has taken the view that losses will continue to be accrued.”
She added that the board has been forced to investigate insolvency options because the majority of staff have been with Bridge for many years, making it impossible to reduce the workforce due to redundancy costs.
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