On 16 July 2020, the Government announced details of a new restructuring regime, specifically for higher education providers such as universities and colleges in England, that could be at risk of insolvency. Universities facing severe financial difficulties as a result of the coronavirus will now be able to apply for further Government support.
The Government have outlined their higher education restructuring regime for higher education providers in England who are at risk of insolvency. The scheme will review providers’ circumstances and assess the case for restructuring support. This could include last resort financial support through repayable loans.
The Governments press release on this can be found here.
More information and details of the restructuring regime can be found here.