The Fees company collapse

The Fees Company, which dealt with 70 schools around the country collapsed on September 8, leaving parents possibly thousands of pounds out of pocket.
The small company, based in Currie, helped parents spread the cost of paying their children's bills, which are levied by the school once a term. Instead of having to pay a bill of up to £8,000 three times a year, the parents made monthly payments to the company. The company – in return for an administration fee of about £30 a month – passed onto the school, making the upfront payment itself. Some smaller schools with limited administrative staff insisted parents use the company to pay their fees, if they wanted to pay monthly rather than termly.
Parents have already paid two months' of the four months' payments that go into autumn term's fees. However, The Fees Company had yet to pass that money onto the schools.