The Further Education industry is undergoing rapid transformation. Many colleges lack the skills and resources essential to meet the evolving needs of their stakeholders.
At De Novo Advisory, we provide restructuring advice to management teams, Boards of Governors, funders and the wider Further Education (FE) stakeholder community, to secure an improved and sustainable future.
Recent industry uncertainty has been largely driven by pressure to improve the financial health of UK colleges by the (as was) Department for Business, Innovation and Skills (BIS), resulting in more stringent requirements by the Education and Skills Funding Agency (ESFA).
Ongoing Area Reviews, funding changes, and apprenticeship reforms bring further complexity to the growing push for industry transformation. To manage this complexity and avoid failure, there are many aspects to tackle – the multiple stakeholder matrix being crucial. In particular, lender appetite has changed leaving a sense of unease regarding their financial exposure. Continued lender support remains critical, and to secure this, it is essential that a clear, credible and robust business plan is delivered.
We have the restructuring skills, experience, lender relationships, and independence to support colleges through these challenging times. We are also known to the ESFA and the Transaction Unit.
With the forthcoming insolvency regime looming ever closer, there has never been a better time to get your college in order. There is funding available to support colleges through the transformation process, removing an otherwise potential barrier to seeking specialist advice.
We want to hear from you, if you have concerns about your college; please contact us for a no obligation conversation.
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