Monday August 7th 2023
CodeClan office on Castle Terrace, Edinburgh.
Managing directors and Insolvency Practitioners Craig Morrison and Scott Milne from the Edinburgh and Glasgow offices of cross-border advisory firm Quantuma, were appointed as Joint Provisional Liquidators for Scotland-based digital training provider Codeclan Limited on 4 August 2023.
Established in 2015 with Scottish Government seed funding, Codeclan focussed on bridging the critical digital skills gap in Scotland and supporting a new generation of digital talent. Launched with a core curriculum to retrain people from all backgrounds and professions, the company taught students the fundamentals of software programming. The business provided training from sites in Edinburgh and Glasgow and in 2018 it expanded to Inverness.
The company was significantly impacted by Covid as, in addition to providing training to individuals, it derived significant income from placing people into employment. In 2021 the Inverness office was closed and the business looked to have returned to some stability.
Unfortunately, current market conditions have hit the turnover, with the business placement side of the business once again suffering. Attempts to replace this income have failed and ultimately, a lack of cash flow has resulted in the company being placed in liquidation and immediately ceasing to trade. All 57 employees have now been made redundant.
Quantuma managing director and Joint Provisional Liquidator Craig Morrison said:
“It is deeply regrettable that Codeclan has been forced to cease trading, due to challenging market conditions. A combination of unsettled trading conditions, particularly impacting the business placements side of the business, has seen Codeclan unable to continue.
“As Joint Provisional Liquidators, our immediate priorities have been to provide appropriate support to those whose jobs have been affected. The Partnership Action for Continuing Employment (PACE) has been engaged to work with employees.”Tweet Share on Facebook