The global economic downturn is being blamed for the collapse of a significant UK Training Provider.
New Horizons UK franchise owned by Thunder Bay Group Limited went into administration in April 2009 owing £2.1m (approx. $3m). John Stoddard the Managing Director was unavailable for comment and is thought to be residing in Spain.
New Horizons Worldwide took the decision to terminate its franchise agreement with Thunder Bay Group on the 9th April as certain obligations were not met.
New Horizons Worldwide has stated that it is planning to open a new office in the UK capital, London in the near future.