Advent Computer Training, which ceased trading in January, has appointed two administrators from Brummie accountants PKF.
Ian Gould and Brian Hamblin, partners at PKF, will run the Hagley-based business while they look for a buyer. Advent Computer Training and Access 2 Careers employed 250 people and had annual turnover of £30m.
The company offered Microsoft Certified Systems Engineer courses and other IT programmes. Access 2 Careers offered courses for plumbers and sparkies.
Ian Gould said: “With the coming of the credit crunch there has been a lack of available finance for potential students and this has impacted on the ability of the directors to continue the two businesses... We are hopeful that a buyer can be found who will take over responsibility for the students and their courses."
The collapse of the firm has left hundreds of students with debts and an uncertain future. Many comments on forums are from recently redundant people who thought Advent was their way off the dole.
PKF warned that it was unlikely that unsecured creditors would receive any money. But students should fill in a claim form and talk to their credit card provider if they paid for a course using a card.
Gould did not give a figure for total debts.
Gould and Hamblin can be contacted via PKF's Birmingham office, and there is a help page for students and ex-staff here.
The collapse of Advent has also led many students to question the role of "the Institute of IT Training" - a Coventry-based body which describes itself as "the leading authority throughout the UK and Europe on IT training and development".
The Institute, however, describes itself as an accreditation body which does not offer guarantees on the financial liabilities of its members. ®