Public Values

Multinational child care corporation in financial meltdown

Australian corporation was expanding into BC, Ontario and Alberta.

by CUPE

February 28, 2008 — Australian child care multinational ABC Learning Centres is in a financial crisis that could force the sale of centers around the world.

The financial collapse is a perfect example of why Canada's federal and provincial governments need to prevent ABC or any other for-profit child care chain from gaining ground here.

In the fall, CUPE helped uncover news that 123 Busy Beavers, a corporation closely linked with ABC, was expanding into Canada, targeting BC, Ontario and Alberta. To date, 123 / ABC has bought 11 centres in Alberta.

This week, ABC's share prices on the Australian stock exchange plummeted nearly 70 per cent, prompting a halt in trading. . .

CUPE is Canada''s largest union.

Links and sources
  "Child care corporation in financial meltdown", CUPE.ca, February 28, 2008.

Posted: April 22, 2008

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