Australia's reputation as an international education destination was dealt another severe blow with the collapse of a group of companies ( GEOS COLLEGES) which run English language schools nationwide.
Collapse of Geos colleges
Administrators from Ernst and Young came to the conclusion that the GEOS group could not afford to keep its eight Australian colleges running. 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.
About 400 staff will lose their jobs and 3,000 overseas students in cities across Australia are left hanging. The group owed some students thousands of dollars.
"It would appear that at least some of the schools have traded profitably, so the question of where the money has gone is one which needs attention.GEOS is a Japanese company which owns hundreds of colleges around the world.
The pair will also be administrators of GEOS Management Services Pty Ltd and GEOS National English Academy Pty Ltd.
WILL THE GEOS COLLLEGES RE-OPEN ?
Doesn't look like there is any chance !! its under liquidation
The GEOS Group of companies under administration are:
GEOS Melbourne Pty Ltd,
GEOS Adelaide Pty Ltd,
GEOS Sydney Pty Ltd,
GEOS Cairns Pty Ltd,
GEOS Gold Coast Pty Ltd,
GEOS Perth Pty Ltd,
GEOS Brisbane Pty Ltd,
GEOS Management Services Pty Ltd and
GEOS National English Academy Pty Ltd.
The last major college group to go was Meridian. It left thousands of students stranded in November and some are still waiting to be found places in other courses.
About 500 students from a Perth English language school that closed on Friday will be offered positions in other similar schools across the city. At a meeting this afternoon students of St Mark's college in the Perth suburb of Highgate were told they would not have to pay if they needed to extend their student visas as a result of the school closure.
Finbar affected by school collapse
Listed property developer Finbar has been drawn into the collapse of a Japanese-owned language college GEOS, which was a big commercial tenant of the group.According to its annual report, Finbar had been leasing the property to GEOS for $757,000 per year.
GEOS-operated St Mark's English language college in Highgate sits on land owned by Finbar Funds Management, a wholly owned subsidiary of the Finbar Group, which bought the property in February 2007 for $11.8 million.
Schools across Australia run by the GEOS group of companies, including St Mark's International College at Highgate, went into voluntary administration last week.
Some of the Links to GEOS COLLEGES
GEOS Melbourne College of English use the latest methods, materials and equipment. Our classrooms are clean and comfortable and there is an Independent ...
www.geosmelbourne.com.au/page/geos_melbourne.html – Cached