Administrators appointed at Tayside Aviation

Tayside Aviation appointed Interpath Advisory as administrators on 20 April 2023.

A statement from the Interpath Advisory said: “Despite the significant efforts of the shareholder and directors who explored various funding and sale options, cashflow pressures have intensified, resulting in the directors having no option but to take the very difficult decision to seek the appointment of the Joint Administrators. The business has now ceased to trade and, as such, it is with regret that the Joint Administrators have required to make 22 of the Company’s 25 employees redundant. The Joint Administrators will be providing support to all impacted employees to help them submit redundancy claims and ensure they can access the support services of agencies such as Partnership Action for Continuing Employment.”

The Scottish ATO, one of the UK’s longest established flight training schools, was sold in December 2021 to local entrepreneur Tony Banks.

At the time of writing, news is scant on the reasons behind the appointment of administrators, but it is understood that a number of students may have been left out of pocket after having made upfront payments for flight training courses that have yet to be delivered/completed.

Geoff Jacobs, Managing Director at Interpath Advisory, said: “We will be taking all steps to rapidly assess whether there are any parties who would have an interest in the business and assets, and would advise those with an interest to make contact quickly. We appreciate that there will be many customers who are in receipt of pre-paid flying hours. We will collate details of these parties from company records and include them within the list of creditors, whom we shall contact in due course to advise of the claim process.”

We will post an update as more news emerges.

www.taysideaviation.com

Author: FTN Editor

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