5 Dec 2008

Receivers to announce future of ABC Learning

2:16 pm on 5 December 2008

Receivers for ABC Learning are expected to make an announcement on Friday about the future of more than 300 childcare centres in Australia.

The childcare provider collapsed with more than $A1 billion of debt last month.

More than 600 centres were judged to be financially viable, giving them a reprieve from closure.

But the ABC reports, the future of another 386, including 43 in Western Australia and 60 in Queensland, hangs in the balance as the receivers assess their viability.

ABC Learning operates 119 centres around New Zealand, providing for about 7,700 children

The New Zealand section of the business is being treated as a stand-alone entity.

Officials from the Ministry of Education met ABC New Zealand management in early November, to discuss how to keep the centres operating.

General manager Craig Presland said an assurance had been given that current subsidies would continue.