Update on NICS Project in Cambridge, U.K.
Earlier this year we announced that we were planning to start a new project in Cambridge, U.K. This project included a partnership between NICS and a local school whereby we would manage this newly formed school in Cambridge. Since that announcement, we have been diligently pursuing various aspects related to the project. In many ways, the project has indeed gained traction during this timeframe.
There were several compelling reasons as to why we initially engaged this project. Perhaps the two most significant reasons included the overall market potential in Cambridge as well as a like-minded partner that was willing to assume full liability of the project (including the finances) during this first year. This was indeed a gracious offer from our partner, and it made the opportunity possible for us to proceed with the plans to manage the school, especially considering our limited expansion capital at the time.
Due to some unforeseen circumstances impacting our partner’s financial capacity, our partner is no longer able to financially sustain the project. This is ultimately detrimental to the project, for we are simply not in a financial position to sustain the project for the rest of the year. Consequently, we have decided to formally withdraw our intent to move forward in Cambridge at this time.
This news is disappointing for many reasons. Not only do we believe that strong potential still exists within the Cambridge market, but we also realize and appreciate that many of our constituents have expressed interest in this project. Although we cannot move forward in Cambridge for now, we want you to know that we are still very much committed to our mission of establishing a world-wide network of international Christian schools. Therefore, we will continue to seek new opportunities to impact the lives of students around the world. We want to say thank you to all of our friends that continue to support and pray for us.
Should you have specific questions regarding the project, please contact our New Projects Director, Blake Weaver at email@example.com.