Ernst and Young has been appointed voluntary administrators to private English language school GEOS Perth and eight other affiliated companies, affecting a total of 2,300 students from a number of countries.
Justin Walsh and Adam Nikitins from E&Y will be administrators of the nine companies that operate eight schools in Melbourne, Adelaide, Sydney, Cairns, Gold Coast, Brisbane and Perth.
The schools have about 390 employees.
The pair will also be administrators of GEOS Management Services Pty Ltd and GEOS National English Academy Pty Ltd.
“The financial position of the companies is such that the directors appointed voluntary administrators,” E&Y said.
“School operations have been temporarily suspended while the financial situation of the companies and ability to fund future operations of the schools is assessed over the next few days.”
In 2006, GEOS Perth, which at the time was affiliated with St Mark’s International College, was a finalist in the education export category for the WA Industry and Export Awards.
http://www.wabusinessnews.com.au/en-story/1/78178/Administrators-called-to-Perth-school