Chinese investors in talks to buy Ruthin School
Chinese investors are in discussions with Ruthin School in Denbighshire and are believed to be within two to four weeks of completing its purchase. North Wales Live has reported.
The co-educational day and boarding school, which can trace its origins to 1284, has confirmed it is seeking investment adding that if it goes ahead it will have “no impact” on its operation.
The school’s most recently published accounts in August 2020 warned of a “material uncertainty which may cast significant doubt over the going concern position of the school”, a sentiment confirmed by its auditors.
Nicholas Grenfell-Marten, the school’s bursar, said: “As these discussions are subject to contract, it is difficult for us to comment publicly on them and we have been asked not to name those involved. However all staff and parents have been informed a sale is possible and they have been reassured there will be no impact on the school.
“Since Covid, many schools have struggled with student intakes, so if we can bring in additional investment it will be a very positive step. We have a global intake at the school and there are no plans for this to change.”