Uni denies bankruptcy claim
The University of Gloucestershire has denied claims it is facing bankruptcy.
A national newspaper today revealed government plans to allow poor-performing institutions to fold, which is alleged to include the University of Gloucestershire, London Metropolitan and the University of Cumbria.
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All three were former polytechnics or further education colleges which have recently been given university status.
The plan will supposedly allow universities to go bankrupt from next month as part of huge further education reforms.
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But bosses at the University of Gloucestershire, which has four campuses in Cheltenham and Gloucester, categorically deny the claims.
Paul Drake, director of external relations said: “The University of Gloucestershire has improved its financial position significantly. We are anticipating a healthy surplus at year end and have increased income by 6.8 per cent in 2009/10 whilst reducing costs by £2m.
“This is a university on an upward trend following excellent Quality Assurance Agency and Ofsted reports. Speculation about bankruptcy is grossly inaccurate and destructive.”
For the full story see Monday’s Echo.
Comments
by Accurate reporting and property origins, Cheltenham
Tuesday, September 28 2010, 6:06PM
“Think the writer of this article has got a little muddled between 'further' and 'higher' education - origins and the forthcoming report on university funding?
To respond to those commenting:
Pittville campus is also a former asset of Gloucestershire County Council and was given in good faith at the setting up of Cheltenham & Gloucester College of Higher Education, as well as the Oxstalls campus i.e. a significant site in Cheltenham and a significant site in Gloucester of some value.
The Pittville campus (a purpose built college of art and design) is worth far more than £5M. This is a relatively minor sum for the University to offer for reinvestment for a site of some value, and thus where is the remainder of the money going from the sale of this asset?
The Cheltenham & Gloucester College of HE resulted from a merger of the higher education provision from what was then GlosCAT (which was a mixed economy college i.e. delivered FE and HE) and the College of St. Paul & St. Mary (Church Foundation).
The university accounts (public documents) show the level of debt in relation to income and all students should know these facts. It is considered to be exceptionally large.”
by Workshyhater, Glos
Monday, September 27 2010, 11:50AM
“I know a guy who studied an obscure degree, it was basically his hobby, no chance of getting a job with it. Last thing I heard, he was serving in HMV, another hobby being music!!”
by John, Glos
Monday, September 27 2010, 2:14AM
“The Supernatural beings these universities invent increasingly seem to be people who jump from childhood to infanthood and progress no further. However else could one explain a student finishing their university course declare "I never had a clear map of what I really wanted to do but I now work as a kitchen porter". Perhaps I should have thrust a few words similar to "Wasting Public Resources "”
by Scott Partridge, Cheltenham
Sunday, September 26 2010, 10:07PM
“Personally, I believe that this rumour is all a load of rubbish! After studying at this university for 3 years, I have seen how it has grown and how the whole institution has made huge steps along the way. Currently, huge plans for structural improvements and re-locating are taking place at the Cheltenham Pitville campus, and I really cant see how these are the actions of a bankrupt institution. With regards to comments above, how dare you say that this university has no standards or status! We have made the successful step up from a college to a university,and we are a great one at that! ....Although the St Pauls College roots are still remembered!.....S.P.E”
by Scott Partridge, Cheltenham
Sunday, September 26 2010, 10:06PM
“Personally, I believe that this rumour is all a load of rubbish! After studying at this university for 3 years, I have seen how it has grown and how the whole institution has made huge steps along the way. Currently, huge plans for structural improvements and re-locating are taking place at the Cheltenham Pitville campus, and I really cant see how these are the actions of a bankrupt institution. With regards to comments above, how dare you say that this university has no standards or status! We have made the successful step up from a college to a university,and we are a great one at that! ....Although the St Pauls College roots are still remembered!.....S.P.E”
by Workshyhater, Glos
Sunday, September 26 2010, 4:22PM
“'Paul Drake, director of external relations...............'?
Director of external relations??????!!!!!!!!!! What the heck is going on here, it's a bloody college, not Microsoft, or BaE, or any other company that sells things!
With uni places very scarce, there was a woman on TV a couple of weeks ago, her job, Sales Director?? Why, if the courses don't sell, then sack the Principal. The gravy train has to stop now, this is not somewhere to hide and get paid £squillions for doing a non-job.
We just need tutors and a couple of clerks on £15k.”
by Sandra, Gloucester
Sunday, September 26 2010, 4:15PM
“Nice one John ! I like your reasoning !”
by Sean, Gloucester
Sunday, September 26 2010, 1:28PM
“I think the whole system failed when anyone could offer higher education to the masses. It has become a culture of quantity not quality. It dilutes the market, and makes degrees not worth the paper they are written on. I say let let these waste of space unis go bankrupt, and give the funding to universities with standards, and proper courses.”
by Dorcus, Cheltenham
Saturday, September 25 2010, 10:29PM
“No way are they bankrupt, when they have no cash left they could sell The Park campus for housing - it's worth multi-millions and the developers would queue up to build overpriced apartments on that land.”
by John, Glos
Saturday, September 25 2010, 9:22PM
“If my memory serves me well (scratch my forehead a little) The land on which Oxstalls Campus is built was a gift from Gloucester City Council for the purpose of providing education facilities in the community. Now let me think! If the university turns out to be bankrupt in the end then unquestionably the land must be returned into City council ownership. Now I call that clever thinking especially as we need a new college and plenty spare land to build a few first class houses. My advice to the council would be grasp the opportunity.”