RED Go Into Administration - Uncertainty For RED Driving Instructor Trainees (PDIs)

LVG Limited (Lansdowne Venture Group) whose companies include several well known driver training industry brands including RED Instructor Training, RED Driving School and RED Fleet Training went into administration on 16/2/10.

The business is currently being traded in Administration whilst a sale of the business and assets of the Company as a going concern is pursued.

MCR have been appointed as Administrators.

More information about the current situation can be found at: MCR

LVG Ltd have made the following statement:

"LVG Ltd has appointed MCR to take the company into administration as at 4.30pm on 16 February 2010

It is the intention of the administrators that the company continue to trade while a buyer is secured. We are very optimistic that a buyer will be found imminently to remove LVG from administration as soon as possible.

We would like to reassure all our stakeholders that the company will continue to trade, it is business as usual and our employees and customers will not be affected.

This means that if you are employed by LVG, have a franchise with RED Driving School, are training with RED Instructor Training, are a customer of RED Fleet Training, have accounts with FBTC, have a subscription to adiNEWS or products on order through PDIA, it is business as usual.

We will update you all as soon as we have further information.

Regards,

LVG Ltd"