CodeClan students saved as sale of assets sealed
80 CodeClan students' studies have been saved by the UK’s largest technology incubator Codebase, following the sale of the digital skills academy’s assets.
Last week, CodeBase purchased the assets from the liquidator Quantuma. The news has been welcomed by the students who will now be able to finish their courses at one of Codebase’s facilities. However, whether a new digital training site will be launched is still to be decided.
Funded by the Scottish Government, CodeClan became the first digital skills academy in the country. The start-up aimed to bridge the skills gap and support the new generation talent. However, after a period of growth, opening offices in Edinburgh, Glasgow, and Inverness, the pandemic significantly halted its progress.
Struggling with post-pandemic financial shortages, amongst other challenging market conditions, and placing students into employment, forced Joint Provisional liquidators, Quantuma, to cease the academy’s operations earlier this month.
All 57 employees were made redundant, and the continuation of students’ training was unclear half-way through their course.
Quantuma managing director and joint interim liquidator Craig Morrison said: “Mindful of the students impacted by the Code Clan business closure, it became clear that several interested parties might be able to assist those students.
“We were quickly able to run a sales process and thereafter complete a sale in a relatively short timescale and I am very pleased that the Quantuma team was well placed to make this happen. I am delighted to complete the sale to CodeBase which will hopefully provide a solution to many of those students who were affected and who have faced a disrupted and uncertain few weeks.”