One of Australia’s largest private training colleges has collapsed, leaving 15,000 students in limbo and plunging 1000 staff into unemployment.
The embattled Careers Australia was placed into voluntary administration late on Thursday – six weeks after it was stripped of federal funding due to dismal completion rates and aggressive recruitment practices.
Classes have been suspended at the college’s 14 campuses across Australia and teachers have been stood down.
Employees received a letter from administrators PPB Advisory on Thursday night, which said the company had insufficient funds to meet payroll and other costs.
“You have been stood down without pay until further notice effective immediately,” it read.
The administrators, David McEvoy…
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