What happens when an academy fails?

We know that Michael Gove’s solution to community schools which are seen to be failing is to turn them into academies. Many of us have been curious about what happens in the event that an academy fails. The answer is to be found with Nottingham’s very own Djanogly Academy, which has been told by the DfE that its results are not good enough and it has to improve. Last year it was 6 points below the government ‘floor target’ of 40% of students achieving five or more higher grade GCSEs, including English and maths. There is an interesting parallel to be drawn with Derby’s Sinfin which, despite reaching the floor target last year, is being forced into becoming an academy. Djanogly has been given no time scale in which to improve but the big threat if it doesn’t improve is that it will be forced to change its sponsor! Quite why this is a threat is not clear.