NOTICE TO CUSTOMERS
The directors regret to inform you that following a review of the financial position, and having taken professional advice, it is not possible to continue to trade.
With effect from 1st February 2008, the business will have to be closed down and no further training courses will be provided.
The Company will be placed into a formal insolvency process, which means that where you have made any payments towards a course, you will become a creditor of the Company. A letter will be sent to you in this regard in due course.
Where payment by you has made been made by credit card, it may be that you will have a right of recourse against your card provider under Consumer Credit legislation.
The Company has set up a telephone helpline in order to provide further information. This is 0800 3777 303 and is free of charge if dialing from a landline.
CLEARSTONE
FAQ’S BY CUSTOMERS
Q What has happened to the Company?
A 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.
Q What about courses I have paid for?
A The training schools are unlikely to accept you as they themselves have not been paid. However, if you wish to approach the school you were due to attend you may be able to make fresh arrangements.
Q What if I want my money back?
A Regrettably, as the Company is insolvent and has ceased trading you will be a creditor and in due course you will receive a letter explaining whether or not there is likely to be a dividend or not. At this stage, it appears unlikely.
If you have paid by credit card, please contact your card provider to make a claim.
If you took out a loan to pay for your course you should speak to the loan provider about your rights under the consumer credit legislation.
Q Why did the Company fail?
A The business was bought from an administration in June 2007. Substantial funds (over £1.25 million) were invested in the business but the losses, though reduced, still continued. When the directors reviewed the position in January it was estimated that a further £3 million plus would be required to ensure financial stability and the directors realised that they would be unable to raise funds of this magnitude.