Week 12 Presentation Case Abc Learning.pdf

Chapter 1

Chapter

- ABC Learning:

Collapse of an entrepreneurial venture

1

ABC Learning: collapse of an

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Company overview ABC Learning grew t_o b_e_Australia'srargest childcare operator. Founded by Eddy Groves and his wife, Le Neve, in Brisbane in 19gg (Durie 200g),it managed"_ at iis P"uk - approximately 1',040 of the estimated +,ZOO childcare centres in Australia

and provided care services to more than_110,000 children (Fraser 200g). Although it started its journey in Australia in L988, ABC Learning established itself as an international organisation that was engaged in proiidirrg educational and development care for children around the world. Thery in october 2008,-ABC Learning was put into receivership, as 40% of its centres were unprofitable (Ahmed 200g). To a backdrop of J".,r"ru debt and financial crisis, ABC Learning went into voluntary ad'ministration as, on 6 November 2008, the company's Board of Directors handed ABC Learning over to administrators. The appointed administrators were continuing to look fo", b,ry"r, for a number of ABC Leaming centres at the end of December 200g. All of ABC Learning's centres, however, remained open until the end of December 200g with the help of funds from the Federal Govemment. on j"1. December 200g, the Federal Government announced that 55 cenkes would be closed at the end of December 2008, and another 24'1, were declared as ,unviable,. $34 million was then to keeping these 'unviable' cenkes open until 31 March 200g (ABC 3Jlocatg{ News, L1 December 2008; Ahmed 2003).

ABC Learning received approximately 44% of its revenue from the Australian Federal Government as subsidies for the children attending its centres.

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