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Clearstone closes its doors again
Page 6
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Vonths after it was saved from administration by private equity firm RCapital, Clearstone has ceased trading. Dylan Gray reports.
DRIVER TRAINING company Clearstone called in the administrators on Monday (4 February) having been saved from administration by private equity firm RCapital in July last year ('Clearstone bought out of administration by RCapital', CM 19 July 2007). Administrator Geoff Kinlan from BDO Stoy Hayward says: "Trading has ceased in the training division and all staff have been made redundant.
"Efforts are now being made to find a buyer for the recruitment side of the business."
And in a statement posted on its website Clearstone confirms: "The company has ceased to trade following a review of its financial position. The directors have been advised that in the absence of future funding commitments it could not carry on trading."
One dissatisfied Clearstone customer told Commercial Motor "I paid over £1,200 in advance to get my Classl licence, then turned up at the trainingcentre on Monday to find that they had gone bust."
People who have paid by credit card are advised to contact their card provider to try to reclaim the money. although other types of payment may not be recoverable.
The Clearstone statement adds that at this stage it appears unlikely that a dividend will be paid to creditors.
For anyone wishing to speak to Clearstone, a helpline has been set up on 0800 3777 303.