A Hong Kong-based businessman has yesterday submitted a bid to acquire Abbots Bromley School and inject significant working capital into the school to allow the school to continue to trade in September 2019.
The investor was introduced to Woodard from the parent panel after an approach from his agent via this website, the agent and the investor have always been aware of the sense of urgency and have acted with speed and great intentions all along and we are delighted to have been able to progress this deal to this stage.
The offer contained a detailed business plan for Abbots Bromley School and also contained various commitments to honour parental agreements.
The offer was submitted to Richard Morse (Chairman of Woodard), and that was passed that to the school governing board for consideration and meets with expected requirements as set out by Woodard and the School governing body.
The Hong Kong-based investor is a British passport holder and will not face the same issues on capital restrictions faced by the previous consortium and therefore is in a stronger position to move fast.
At all stages, the investor has Cc”d us into all communications so that we are aware of all dealings from the Woodard side and to ensure no blockages occur.
Woodard and the school governing body will formalise the contract demands in writing and at this stage, the investor will arrange to complete the sale of the school subject to the deposit being paid.
As I’m sure you would all agree this is significant news for the future of Abbots Bromley School.
We shall issue further updates upon any developments in the coming days.