ABC Learning, the listed Australian nursery provider, went into voluntary administration last month owing A$1.66bn (£709m) of which A$900m (£384m) is owed to secured creditors, including banks. To keep the company's centres open until Christmas, the Australian government has injected A$22m (£9m) into the business.
No news yet from ABC Learning on its full year financial results for the year ended 30 June 2008.
On 30 September it was announced that ABC’s founders, Eddy Groves and his partner Dr Le Neve Groves, were leaving the company with immediate effect.