UPDATED EXCLUSIVE: Sixth Form students at Christ the King College in Newport could return in the New Year to find they are without classrooms, as Island Echo reveals that the school owes more than £800,000 for the hire of the temporary accommodation blocks.
Less than 3 weeks ago Christ the King College received a letter from a London-based solicitors warning that a payment of £667,841 +VAT had not been paid to their clients School Facility Management Ltd, despite being due on 5th September.
On 22nd November a demand was issued for the payment of £808,797 (including VAT), but it is understood that the money has still not been paid – and is gathering interest at over £100 a day.
Christ the King College has been warned that if payment is not made soon then the contract may be terminated, resulting in an eye-watering termination payment of almost £6.9million. Should this happen, the school would not only lose the temporary classrooms but face a bill of around £7.7million, plus fees to transport the classrooms back to BOCHire Limited on the mainland.
The contract was entered into in May 2013 and was given approval by the-then Chief Executive of the Isle of Wight Council, Steve Beynon.
Sources close to the College have claimed that the looming financial crisis was raised with the previous Independent administration at County Hall on a number of occasions, but to no avail.
UPDATE TUESDAY @ 13:23 – The Governing Body of Christ the King College have issued a statement in response to the Isle of Wight Council’s news, as released this morning, that it will not advance any further money to the College following what they are calling an “ill judged” agreement to lease buildings.
However, the Body have not addressed concerns raised in this article that a 3-month overdue bill of £808,797 needs to be paid, or face the sixth form buildings being removed.
Read both the Council’s and the College’s statements at http://www.islandecho.co.uk/council-wont-advance-money-christ-king-college/.