Woodard and a Hong Kong based investment company have entered into serious discussions to acquire Abbots Bromley School.
The Hong Kong based investors had a tour of the school on Tuesday and all relevant due diligence and proof of funding has been completed.
Talks are now at an advanced stage and the deal proposed includes a significant sum of money being lodged as a cash deposit.
A source close to the deal spoke this evening “The Deal is ready and the investors have quite literally got the cheque book out and wanting to sign a deal”
The ball is now very much in Woodards court with multiple offers now in the public domain.
Richard Morse the chairman of Woodard earlier this week travelled for Emergency talks with the parents group who are putting together several options to rescue the school from an uncertain future.
The talks between Woodard and the parent group were encouraging however all parties were aware of the time frame in which to complete a deal in a swift manor.
The Several investment opportunities which have been presented to Woodard are very keen to conclude a deal to ensure the school remains open in September.
The several investment options presented by various investors are currently awaiting news from Woodard and the investors have pledged to to ensure that the future is secure.
As a parent group we are also in talks with one particular party who is keen to explore options to acquire Abbots Bromley School and have offered to work with Woodard to find a solution to ensure the school remains open and we remain in active talks with them.
As there is now several credible options on the table for Woodard to consider we hope that the chairman who has been open and transparent with us up until now will seize this opportunity to consider bold proposals from various investors and allow Woodard to meet its charitable intentions and secure a long awaited lifeline for Abbots Bromley School.
The parent group stand ready to assist Woodard and the investors to ensure that a smooth transition is possible.