Careers Australia goes into voluntary administration after being denied access to new VET scheme
One of Australia's largest vocational education providers, Careers Australia, has been placed into voluntary administration with up to 1,000 staff members stood down immediately without pay.
Classes have also been cancelled for 15,000 students at 14 campuses across the country.
Late on Thursday night, voluntary administrators David McEvoy and Martin Ford of PPB Advisory sent a letter to all staff which has been obtained by the ABC's 7.30 program. "We do not currently have sufficient funds available to meet payroll and other costs which would allow us to continue trading the Group on a 'business as usual' basis," the letter read. "Accordingly, we hereby confirm you are stood down effective 25 May 2017 whilst we undertake an urgent assessment of the Group." Students were sent a text message at 10:45pm which reads, "All activities of Careers Australia Group are suspended. No classes, no workplaces effective immediately. Further information will be provided." 25 May michaelatkin ✔ @michaelatkin
It leaves the future uncertain for Careers Australia's 1000 staff members and 15,000 students across the country (2/2) #abc730 Lorna Dunne @TheLornstarr
@michaelatkin so does that mean what I've been studying for the past 10 months has just been a waste of time?
6:45 PM - 25 May 2017 5 5 Retweets 4 4 likes
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At its height, Careers Australia was raking in hundreds of millions of dollars in taxpayer funding for expensive training courses.
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