Soaring numbers of academy trusts are being wound up, and many are collapsing with deficits of millions of pounds, a Schools Week investigation has revealed.
Our analysis, using Companies House records, found at least 91 multi-academy trusts had closed or were in the process of being wound up since 2014.
However, more than half (46) closed or began closing this year – with figures soaring since 2014. The disclosure also comes after the government admitted last week that a lack of high-quality sponsors is still a “top risk” facing the academies system.
Closure rates are also likely to continue to rise after a series of high-profile academy trust failures such as Bright Tribe, Schools Company, and Wakefield City Academies Trust, which will soon officially close after their schools are rebrokered to other trusts.