Eight English language schools operated in Australia by the GEOS group have gone into voluntary administration, leaving about 2300 foreign students unsure of their future.
Justin Walsh and Adam Nikitins of Ernst & Young have been appointed administrators to nine companies operating the schools in Melbourne, Sydney, Adelaide, Perth, Brisbane, Gold Coast and Cairns.
They have about 390 employees and international students from a number of different countries.
“The financial position of the companies is such that the directors appointed voluntary administrators,” Mr Walsh and Mr Nikitins said in a statement on Friday.
“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.”
The 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 administrators said a better understanding of the financial situation and a decision on future operations should be known by the close of business on February 1.
“Employees, students and creditors will be advised as soon as possible,” they said.
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