Closure of Australian Schools
On January 29, 2010, the eight Australian GEOS branches suspended operations, with the nine companies responsible for the schools forced into voluntary administration. On February 1, 2010, Ernst & Young closed all eight GEOS schools in Australia permanently, citing insufficient finances to continue carrying out business in Australia. Despite a request to GEOS Japan for funding, it was not forthcoming, leaving 2300 students without the courses they had paid for and 390 employees without jobs or payouts. In their Report to Creditors of GEOS Melbourne Pty Ltd, dated 23 February 2010, Ernst & Young stated that the school had been operating profitably but "in the 18 months prior to closure, approximately $1.36 million was made available for the purpose of transfer from GEOS Australia Holdings to GEOS Corporation (Japan) or other GEOS entities.
Read more about this topic: GEOS (eikaiwa)
Famous quotes containing the words australian and/or schools:
“Beyond the horizon, or even the knowledge, of the cities along the coast, a great, creative impulse is at work—the only thing, after all, that gives this continent meaning and a guarantee of the future. Every Australian ought to climb up here, once in a way, and glimpse the various, manifold life of which he is a part.”
—Vance Palmer (1885–1959)
“To be a Negro is to participate in a culture of poverty and fear that goes far deeper than any law for or against discrimination.... After the racist statutes are all struck down, after legal equality has been achieved in the schools and in the courts, there remains the profound institutionalized and abiding wrong that white America has worked on the Negro for so long.”
—Michael Harrington (1928–1989)