OLCI in Administration ???

[Drexyn]

I just received a letter today from a company called ERR, Engineering Real Results. They state that they are the administrators of OLCI and have accepted a transfer of my contract with them and i'm now bound to their terms and conditions.

I know nothing about this company as yet so i'm concerned about the remaining parts of my training i still have to complete as they have also made a point that i will be hearing from their finance department concerning future payments for my training. I paid OLCI in full so now this is very concerning.

Anyone spoken to these people or know what the script is?

Cheers

Trev

 

[trev]

I doubt very much that that could be made to stick in a court mate. If I were you I'd be ringing them on Monday for a talk about where you stand. Depending on what they say I'd then be talking to CAB or a lawyer

 

[ferg]

I agree with Trev Phone them on Monday morning and find out where you stand.

 

[Badged01]

Bust on Friday re-trading on Monday! The guarantee you had with our old company isn't valid now so you have to pay to us for continued service. Have heard that arguement a few times before ........

 

[Octopus]

Sounds like a prepack administration where the old company walks away from its debts and the new company starts up debt free - the losers are the suppliers and the customers of the old business. Sorry if this isn't the news you want.

 

[snowhead]

It may just be a standard letter also aimed at people who may be paying Direct Debit and need to change bank details.

If you search, ERR seemed to have been trading since 2012, not that says they aren't owned / controlled by the same ownership.

ERR limited
" In 2012 former RAF aircraft engineer Phil, who grew up in Oldbury, was looking for a home for a new venture, a college training people for jobs in the UK's burgeoning construction industry."

They won't be taking on hundreds of partly trained trainees for free, unless they've aquired the OLCI name and reputation, if they have a good one, as compensation maybe.

 

[Drexyn]

Thanks for the info, i'm going to be very busy on the phone tomorrow.

 

[snowhead]

Directors of ERR;

Engineering Real Results Limited. Check Company 08205023. Free Company Profile

(Former) Director of OLCI;

Philip Laniado. Free Director Profile. Check Company Director from Companies House
Olci Construction Training Limited. Check Company 04314958. Free Company Profile

OLCI seem to have been in a bit of debt;

OLCI CONSTRUCTION TRAINING LIMITED. Free business summary taken from official Companies House information. Free Alerts.

 

[Marvo]

“After suffering an extended period of financial losses, OLCI was unable to meet its commitments to creditors and in early April had a winding-up petition presented against it. The directors took the decision that insolvency was unavoidable and consulted KPMG to help find a solution that would best protect the interests of students, creditors and employees. KPMG conducted an accelerated sales and marketing campaign and the pre-pack sale secured ensures the best outcome for all parties.”

Source

Also OLCI Construction Training has gone into Administration

 

[PEM]

I'd recommend if up have to continue paying for training you have already paid for think twice! If you decide to pay try and pay I instalments as you get it to mitigate risks.

Tough break but not rare.

 

[Drexyn]

Ok so just called OLCI this morning and yes they have gone into administration and were immediately bought as a going concern from ERR Ltd.

They are continuing to trade as OLCI and all students will continue to receive their training as agreed in accordance with their individual contracts.

All i can say is ...... phew. There is a lesson to be learned on my part and one thing i won't be doing in the future is paying for something in full, it will be installments all the way.

So it's back to the books and further studying.

 

[oscar1]

They have purchased your contract and will enforce it. Apparently they purchased New Career Skills and have had links with ATL. Good Luck

 

[Badged01]

Glad it worked out OK in the end! Always a worry when a company goes under ...... I'm never lucky enough to be involved with the ones that go under, I owe them money and they write it off for me

 

[Octopus]

Ok so just called OLCI this morning and yes they have gone into administration and were immediately bought as a going concern from ERR Ltd.

They are continuing to trade as OLCI and all students will continue to receive their training as agreed in accordance with their individual contracts.

All i can say is ...... phew. There is a lesson to be learned on my part and one thing i won't be doing in the future is paying for something in full, it will be installments all the way.

So it's back to the books and further studying.

Pay with a credit card - then if the company goes bust you can get a refund!

 

[Connexions]

ERR is ATL I learned that today at a ATL training center

 

[oscar1]

Connexions, what ATL centre. I was under the impression they had gone as well???

 

[Drexyn]

I did pay with my visa debit card that is insured for all transactions so i'm comfortable with my options. My main concern wasn't so much about the money initially, it was more about the pain in the royal i would have to endure to find another provider near me to complete my final units.

Now that things are in the status quo i can concentrate in battering through my last units and then start my log book evidence. I'm looking at doing some domestic work as i finish off the course so i'm confident i will get that big tick in the box by the end of the year or early next year.

 

[KAS1]

Credit cards are the way to go not debit cards, debit cards are like cash hard to get anything back.

 

[Drexyn]

I haven't used a credit card in 10 years and have no plans to use one over the next 50 years.

My debit card is covered under the Visa debit scheme just the same as a credit card is, win win and no additional interest payments either.

Considering i came from a banking background i know what product best suits my needs.

 

[Eddiesparks]

I'm nearly finished my nvq with them but not submitted it yet. Mate i feel uneasy i think get the lot done before new company goes ---- up. I'm not reassured by the letter i got from the new firm