Mantis
Years ago
ABC Learning on the brink
Fears grow of ABC Learning collapse
Barrie Elvish, chief executive of the non-profit Creche and Kindergarten Association of Queensland ... predicted ABC financiers could appoint receivers or administrators who would then bring in temporary operators to restore some credibility to the group. He thinks the centres will later be sold off in small groups to private investors rather than unloaded as a single entity.
"It's very much a tainted product now," Mr Elvish said yesterday. "I think it would be very unlikely that someone, unless they were prepared to get it at a bargain price and then spend a lot of money on rebadging and remarketing and all the rest of it, will get it back to credibility. I can't imagine it staying as one group."
Calls for ABC founder Eddy Groves and his wife, Le Neve, to resign from an already-shaken-up board are likely to grow louder if the financial results are worse than expected.
It looks like Eddy is history and the Dome will be sold in a Fire Sale, yet again.
