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Chapter 1 - ABC Learning: Collapse of an entrepreneurial venture

Chapter 1

ABC Learning: collapse of an


entrepreneurial venture
QunmRUL Amv ANo MoHAMMAD Asu yusuF

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
3Jlocatg{
to keeping these 'unviable' cenkes open until 31 March 200g (ABC
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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