ABC Learning Centres – did we learn anything?
I know a few people in the childcare game and I’ve heard quite a few stories about ABC over the last few years. One person I know was considering buying a childcare centre and the accountant valued the business at around $400k. That business was bought by ABC for three times the price. Their business model seems to have been to buy up all childcare centres no matter what the price. Now we see a situation where, ‘surprise, surprise’, they are in financial trouble. Banks are owed $762 Million and because the business is so big...
read more