Another broker goes bust. Specialised HGV, AKA www.hgvtraining.co.uk
I hope students will get their money back…but I doubt it.
Yes Flipped again.
Was Advantage HGV, now looks as if they will be called Specialised Training or HGV Training Services Ltd.
These guys are killing the industry by giving it a bad name with the finance companies to the extent no one will lend to reputable trainers or their customers which in turn harms the haulage industry in the continued supply of drivers!
Please go direct to a trainer and you will probably avoid this!
=================
Quoted correspondence removed by Admin for posting without permission. dd.
I would love to know their operating costs.
They didn’t run any training vehicles, didn’t have a training centre to finance.
Interesting that they post the apology notice on their website which wont get paid for when the administrators take control.
It’s a direct quote from James Clifford.
Pete 
With any luck training companies will be to busy clearing the backlog to entertain the phoenix from the flames.
They will be back. For those that remember they were also once Advantage HGV. Which also went into liquidation in 2012 and became specialised. Yet again it’s the wannabe driver who forked out 1000’s to improve their lives only to be left out of pocket. They were one of the big ones…so are there more to follow?
Things to note:
Hgv Training Services ltd is in fact the parent company of specialised and not a sister company as stated in their statement.
Hgv Training Services Ltd was a dormant company until it filed its latest accounts for period ending March 2019. This period was only 22 weeks.
In these 22 weeks the company went from 0 to having trade debtors of £303k, retained profits of £250k and a tax liability of £50k so it looks like this company generated £300k of sales with no costs at all! Oh yes also it only had £21 in the bank.
Specialised Training Services ltd, also filed latest accounts of March 2019 which was a 60 week period.
They had a balance sheet value of £420k
Assets of £1.2 million of which £640k was cash
Liabilities of £860k which was £400k up on the previous year.
Included in the liabilities was tax liabilities of £250k
The figures tell a story!
So they are back already!
Now they are calling themselves HGVT
Stay well away from them, have a look at the reviews that they are trying to hide!
I noticed the last couple of days they changed the name but kept the same website and just carrying on as normal. Surely this cannot right or legal. Go bust on a Friday and start again on the Monday. I rang them yesterday and they answer HGVT and I asked what had happened to Specialised and was told that was a parent company and they were different.
How can companies do this? How can the directors stay in office when having just presided over a company that went bust.
how can they have the cheek to open up again, and go on like they havent just ruined 100’s of peoples lives.
also, how can they display the FCA logo on thier new website.
Surely if you liquidate a company you cant be authorised to offer finance?
register.fca.org.uk/s/firm?id=0 … 00l9QyRAAU
it looks like they are still registered to offer finance according to the FCA Register
This is an absolute disgrace.
Only legislation from Govt can stop this happening
TruckerSteven:
how can they have the cheek to open up again, and go on like they havent just ruined 100’s of peoples lives.
Very common, see the same companies folding and reopening over and over. A few round here do it every do often.
There was a radio prog about it a while back where an insolvency expert was saying its up to some regulator to strike you off being a director. But all too often it just doesn’t happen.
Wonder if they also screwed over the staff and either got rid or said you can come work for new company, but its a new contract and all benefits start again (eg redundancy after 2 years etc).
Need to change the title to inc their new name as it tends to do well in Google results and might mean they lose some customers.
No surprise that they are back at it again, and incredibly frustrating that they have the audacity to publicly announce their intentions. 
I spoke to a gentleman who had signed a finance agreement for £5.5K (LGV C + CE) with Specialised HGV only a couple of months ago. He didn’t even get as far as the medical before they had ‘gone bust’ although his finance agreement still stands with the third party lender.
They have really put the nail in the coffin for financing driver training, as a training provider I have spoken with several lenders recently and they are all very reluctant to touch the sector at the moment due to the actions/foul play of brokers.
My advice still stands for anyone looking to complete driver training; the costs may vary across the board, but so do the standards. Do your homework and pay your potential providers a visit - check the vehicles, meet the team, take a look at the facilities. It is a lot of money to invest in your future and it is so important to ensure you are happy before you commit.
Hi,
I’m one of these “victims”.
I signed up in December at a total cost of £4800 for the full “package”, I completed my
- Medical
- Theory
- Hazard Perception
- Case Studies
I have so far paid £540 of my finance package supplied by Ikano Bank. Specialised HGV ceased trading before I was able to have any lessons in a truck or anything.
Ikano Bank have told me they have raised a dispute on my account and have stopped my payments until they agree a fair outcome with the administrators.
I am now in a position to finance my own tests and have a much better understanding of what needs done etc. Than I did beforehand hence why I used these guys.
I can’t get a response from anybody from Ikano or the administrators, it’s a very frustrating time as you could imagine.
Surely I should have the option to the cancel the finance since I would be paying for an incomplete course?
I’ve seen rumours online that they may be opening up with a new name (AGAIN). But surely I would have to agree to that though? They can’t just automatically enroll me on it could they?
I am hoping to just cancel the finance and book the tests myself, I am just worried incase I do book them, pay for them and STILL have to pay the remaining £4.3k or whatever back to Ikano Bank?
Does anybody have any solutions, answers or advice for me please.
Much appreciated!
Sean.
I am not a financial adviser, but anyone who is considering finance for their training would be better off using a credit card (in my opinion) rather than a finance company, a credit card will offer you some protection if a company goes bust, i used one for my training and paid it back within 6 months.
A bit of advice here, anyone who visits this newbie forum and isn’t sure about training schools,company’s or what ever just book with the forum sponsor
Yes it might be far away or whatever but four
things you are assured, 1) he’s the forum sponsor, 2) you will not get ripped off, 3) free accommodation if you live 70miles away or more and the 4th one is look how many happy customers reviews have been on here. HTH [emoji6]
Sent from my SM-N976B using Tapatalk
rearaxle:
A bit of advice here, anyone who visits this newbie forum and isn’t sure about training schools,company’s or what ever just book with the forum sponsorYes it might be far away or whatever but four
things you are assured, 1) he’s the forum sponsor, 2) you will not get ripped off, 3) free accommodation if you live 70miles away or more and the 4th one is look how many happy customers reviews have been on here. HTH [emoji6]Sent from my SM-N976B using Tapatalk
Although i did not do my training with them, i agree totally with the above.
A bit of advice here, anyone who visits this newbie forum and isn’t sure about training schools,company’s or what ever just book with the forum sponsor
Yes it might be far away or whatever but four
things you are assured, 1) he’s the forum sponsor, 2) you will not get ripped off, 3) free accommodation if you live 70miles away or more and the 4th one is look how many happy customers reviews have been on here. HTH
That seems like sensible advice to me. But I suppose I would think that!
On a serious note, we have our Open Day on Sat 12th. Come and have a laugh reversing an artic, meet some of the team, have a chat and get a special deal if you choose to book anything. Whatever, you’re guaranteed a ■■■■■!!
Please call to make an appointment as we’re controlling the numbers on site as part of our Covid Secure measures.
01623 555661 office hours.
Good luck all, Pete