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Geos’ fate sealed by failure to react quickly to rapid drop in demand
The failure of major language-school operator Geos Corp. occurred because the company didn’t trim unprofitable branches fast enough at a time when the industry was facing a drastic drop in students, people in the industry said. Although the bankruptcy of industry leader Nova Corp. in October 2007 damaged the image of the commercial language school…
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Bankruptcy wasn’t my idea, Geos president states
The decision to file for bankruptcy was not his, the president of language-school chain Geos Corp., Tsuneo Kusunoki, implied in an unusual statement released Thursday. “The company’s board of directors did not reach a consensus on filing for bankruptcy, and the action was taken by one director and some employees,” Kusunoki said in the statement.…
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Shifting demands led to collapse of Geos
Behind the bankruptcy of Geos Corp., a major operator of English-language schools, are two words whose value can be recognized in any language: time and money. Japanese studying English are increasingly using free Internet-based programs and steering clear of the high fees and rigid scheduling of traditional language schools. “With an abundance of choices today,…
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Students stunned by Geos bankruptcy
Thousands of students were caught off-guard and could be left out of pocket by the collapse of Geos Corp. on Wednesday, with many unaware the major English conversation school was in financial straits. “I paid 300,000 yen-plus in February for annual tuition. I was concerned as Nova had collapsed a while ago, but I didn’t…
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English schools need to hit the books
Geos bankruptcy typifies an industry faced with changing market, bad economy With stiffer competition for fewer students amid a lingering recession, the nation’s language schools need to develop new and profitable business strategies if they hope to improve their situations, a fact only further highlighted by Geos Corp.’s announcement Wednesday that it had filed for…
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Inquiries inundate Geos after bankruptcy
Toll-free telephone numbers provided by Geos Corp. for its students were inundated with inquiries Thursday, a day after the major English conversation school said it had begun bankruptcy procedures. No employees were seen at Geos schools around the country, and calls to the Geos sales department went unanswered or were connected to a message saying…
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Geos chief to seek halt to bankruptcy proceedings
The founder and president of Geos Corp. said Thursday he will ask the Tokyo District Court to avert bankruptcy proceedings for the major language school operator. Tsuneo Kusunoki expressed his intention during a telephone interview with Kyodo News a day after Geos filed for such proceedings with the court, which ordered the protection of the…
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Classes resume at bankrupt language school Geos
G.communication Co., which has taken over 230 of the 329 schools run by bankrupt major language school operator Geos Corp., resumed classes at Geos schools on Friday. Classes were reopened at 201 schools and will resume later at 29 other schools, while 99 schools were closed. On Wednesday, Tokyo-based Geos, mired in debts of 7.5…
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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…