Xpertise snaps up John Bryce Training
What about the customers?
Xpertise, the UK IT training firm, has snapped up assets of John Bryce Training from the receivers.
It's paying £190,254 for the "goodwill, intellectual property rights, customer contracts and some fixtures, fittings and other assets from John Bryce, free of all debt and liabilities".
However, Xpertise CEO Bob Bradley says the company is to help customers who paid for JBT training courses and haven't received training.
"The first thing which a customer of John Bryce should do is call us. Under our deal with the receivers, we have not acquired John Bryce's debt and have no obligation to fulfil those orders. However, we recognise that some customers have been left high and dry - we will, of course, work constructively with them to find a solution to their difficulties. Any John Bryce customers with outstanding training requirements should give us a call on 0845 757 3888, so that we can understand their situation and begin to work with them to resolve it. I believe that, in most cases, we will be able to offer continuing customers the option of substitute places on our own new or existing course schedule."
The company notes that JBT turned over £7.7m in the year to December 31, but it says there has been a "signicant decline" in turnover since then. The receivers were called in on July 19.
In the recent THE TOP 50 UK IT TRAINING PROVIDERS - 2002 league table, Xpertise ranked 31 with sales of £4m. The company reported a pre-tax loss of £1.57m on sales of £5.28m in its most recent results ended March 31, 2002.
Xpertise operates training centres in Altrincham, Washington and Leicestershire. JBT has offices in London, Oxford, Birmingham and Coventry.
All in all, the JBT collapse has worked out well for Xpertise. The company already had a relationship with JBT, which supplied the southern bit of its own training network. It retains a national network, through the JBT asset takeover, and it's retained it cheap.