18 Nov 2008

ABC Learning creditors urged to be patient

9:35 pm on 18 November 2008

The administrator for the struggling ABC Learning childcare group has pleaded with Australian creditors and staff to be patient at a meeting in Brisbane.

Ferrier Hodgson held the meeting on Tuesday to update creditors on the company's situation.

The company was placed into voluntary administration earlier this month with debts of more than $A1 billion.

ABC Learning operates 1,200 childcare centres in Australia and New Zealand and cares for about 120,000 children.

The federal government has provided $A22 million to keep centres in Australia open until Christmas.

The New Zealand arm of the operation is not affected by the situation.