Oxford private school founder bankrupt amid £1.4m debts

Alexander Nikitich, the founder of Carfax College, has been declared bankrupt but said this will not impact the day-to-day running of the business.

Carfax Education Group offers tutors, university preparation and homeschooling, with offices in London, Oxford, Abu Dhabi, Dubai, Moscow and Monaco.

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On its website it states: “We are a global education group who help families achieve lifelong ambitions through personalising an expert-led educational journey.

“Rooted in tradition, our innovative approach fosters a love for learning that inspires achievements in the classroom and beyond.”

Carfax College in Binsey Lane (Image: NQ)

Last month Mr Nikitich was announced as bankrupt and in early May administrators for him were appointed.

The 48-year-old said: “Being made personally bankrupt is a rite of passage for an entrepreneur. I was made bankrupt on petition of the landlord of Carfax College.”

He said the trouble started when the college had to move from its long-term premises in Hythe Bridge Street due to proposed redevelopment in the area.

At that time a notice was placed on the door of the premises saying it owes £198,181.45, as it moved to a new home in Binsey Lane.

Winding-up petition was placed on the door of its Hythe Bridge Street premises (Image: NQ)

The notice, dated March 28, 2025, was a winding-up petition to Carfax Tutorial Establishment Limited (the operating entity of Carfax College) brought about by a company called LDF Finance No.3 Limited. 

A winding up order for the company was then posted on Companies House in July last year although other companies with the Carfax name continue.

One of these – Carfax Educational Consultants Limited – which Mr Nikitich was a director of between 2005 and February 2026 and was based at Hythe Bridge Street as well, recorded creditors falling within one year of £1.4 million as of July 31, 2025.

Mr Nikitich said that this figure represents standard operational liabilities and that, following a restructuring of the group, the net financial position of the group has actually improved by over £100,000 between 2024 and 2025.

“This is a sign of a healthy business undergoing positive restructuring,” he said.

He added that the sector had been hit by the “vindictive, scorched-earth VAT policies of the current Labour government”.

Carfax College in Binsey Lane (Image: NQ)

On January 1, 2025, the Labour government removed the VAT exemption for private schools, with several – including in Oxfordshire – citing the move as a reason for closure.

The founder of Carfax added that this was combined with wealthy overseas clients refusing to send their kids to the UK “out of fear they will catch the woke virus”.

As such the college started to bring in local council-funded special educational needs (SEN) pupils.

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Mr Nikitich said these pupils were then withdrawn at the insistence of Oxfordshire County Council which the authority has been approached for comment on.

He said: “No small provider such as Carfax College can easily survive such abrupt halt to its cashflow.

“This is what led to the calling in of my guarantee and resulted in my bankruptcy.”

He added: “Carfax College continues to serve its pupils online, and our wider international business continues to grow.”