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Geos English school files for bankruptcy
Major English conversation school operator Geos Corp. said Wednesday it has started bankruptcy procedures at the Tokyo District Court, which ordered its assets protected from creditors. The Tokyo-based school’s total liabilities are said to be 7.5 billion yen. The school operator said it would hand over about 230 of its 330 schools nationwide to Nagoya-based…
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Future for Geos students at closing schools uncertain, no tuition refunds
Students of bankrupt English-conversation school operator Geos Corp. are frustrated with 99 out of 329 schools nationwide closing and no refunds for those who have already paid this year’s tuition. Some 230 Geos schools will continue operation under the management of G.Communication, while the other 99 will be closed. Geos and G.Communication made a joint…
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Bankruptcy of Geos blamed on shrinking market for English conversation schools
The bankruptcy of major English school operator Geos Corp. is largely attributable to the shrinking market for English conversation schools in Japan, as a result of the declining birth rate and the economic downturn. “The entire industry has been in a slump, and we lost a large number of students because of the recession,” Kazumi…
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Geos Files For Bankruptcy
Geos Corp. said Wednesday it has filed for bankruptcy protection with the Tokyo District Court, saddled with debts of about 7.5 billion yen. The operator of English conversation schools will hand over 230 schools in Japan to subsidiary G.communication Co. The rest will be closed. G.communication, which took over schools from Nova Corp. in 2007…
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Major English school operator Geos goes bankrupt
Major English school operator Geos Corp. filed for bankruptcy on Wednesday at the Tokyo District Court with liabilities of about 7.5 billion yen, company officials said. Tokyo-based Geos operated 329 schools that had approximately 36,800 students. Nagoya-based G.Communication Group is set to take over 230 of the schools with some 29,000 students, while 99 other…
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Chinese students cautioned after GEOS English schools in Australia collapse
China’s Education Ministry on Sunday warned students considering studying overseas against Australian schools run by the GEOS group after more than 40 Chinese students were left stranded with the group’s collapse. More than 2,300 students in GEOS group schools across Australia were affected after the college closures. The schools were scattered across Sydney, Melbourne, Brisbane,…
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College collapse angers overseas students
Department of Further Education, Employment, Science and Technology deputy chief executive Elaine Bensted said the State Government’s priority was the students and ensuring they could continue their study in Adelaide. Meanwhile, a former director of GEOS Adelaide said the company acted as cash cow for the Japanese parent company. Gary Maserow, who resigned in October,…
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Uncertainty over language schools’ fate
The fate of up to 400 language students hangs in the balance with reports that their schools’ parent company has closed its Australian schools. This week, eight Australian schools owned by GEOS in Japan closed but the fate of the company’s schools in Auckland, Wellington, and Christchurch remained uncertain, GEOS Auckland manager Stuart Binnie said.…
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English language schools under threat of closure
The Victorian Registration and Qualifications Authority (VRQA) says it will protect the 2,300 students affected by the possible closure of a number of English language schools across Australia. Nine companies associated with GEOS, which operates the schools in Melbourne, Sydney, Adelaide, Perth, and Brisbane, went into voluntary administration late last week. The authority discovered that…
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Eight English schools won’t reopen: E&Y
The voluntary administrators of eight English language schools say that the schools will not reopen because of the financial situation. Justin Walsh and Adam Nikitins of Ernst & Young say they are working with the federal department of education and state government departments to find arrangements for the 2300 international students. The administrators were continuing…