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Newcastle liquidator called to IAA closure

The Independent Academies Association, which has a management function based at the Macmillan Academy in Middlesbrough as well as an operations office in Nottingham, has been placed into Creditors Voluntary Liquidation.

The IAA represented the Academies movement and had a broad membership base across the country.

Four employees have been made redundant as a result of the closure although it is eexpected that creditors will receive a dividend in due course.

The Liquidator, Newcastle-based Greg Whitehead of Northpoint Insolvency Practitioners, said: “The Association has served members well for 13 years but with changes to the educational landscape, budget cuts, sponsorship cuts and a reduced uptake of membership meant that the operation was no longer viable.”

An IAA statement, which can be read in full here, said: “The IAA, past and present is proud of the contribution it has made to creating this new landscape, however, it is because of this change, that it can no longer realistically expect the levels of membership or sponsorship required to resource the organisation moving forward.

“As a result of this, the Board has reluctantly come to the inescapable conclusion that IAA is sadly no longer sustainable long-term. On Thursday 11th June, IAA Directors met, having taken advice from a licensed insolvency practitioner, and in the light of our projections regarding reduced membership income, it was agreed that a liquidator should be appointed. The process for this is underway and all current active IAA members will be contacted by the professional advisors involved.”

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