ACT - The Association of Christian Teachers

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Learndirect wins reprieve.

Learndirect wins reprieve.

Learndirect, the former state-owned training provider, has won a last-ditch reprieve from its lenders as it seeks to rebuild its finances in the wake of a controversial report by the education watchdog.

 

Sky News has learnt that a syndicate including Lloyds Banking Group and Royal Bank of Scotland (RBS) agreed to extend a £5m working capital facility to Learndirect ahead of a deadline for filing its accounts on Tuesday.

Securing the new borrowing headroom enabled EY, Learndirect's auditor, to provide a going concern statement to Britain's biggest adult training and apprenticeships provider, according to City sources.

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