Monday, 28 June 2010

Catalis Rail Training into administration

This from City Insider...

So. Farewell Catalis Rail Training,

Born out of the old BR training division and based at the former LMS training college in Derby it went into administration on Friday.

RTC Group plc (the "Group")

Catalis administration

RTC Group plc has today (Friday) put its Training subsidiary Catalis Limited into administration.

Although restructuring in 2009 brought the business close to breakeven in the first quarter of 2010, significant revenue shortfalls in the second quarter and the uncertainty over future industry spend on rail training has led to this action being taken. The Group had explored a wide range of options in respect of the Catalis business prior to taking this action.

All other Group companies continue to trade as normal.

Eye fears that this will not be the first rail business to fall victim to uncertainties over future industry spend.