ABC rapidly expanded, reaching 43 childcare centres by 30 June In MarchABC announced it would sell 60 percent of its American child care business to Morgan Stanleyusing the proceeds to pay off accumulated debt.
Around 80 per cent of the employees of the 19 closing centres will come out of the process with their jobs intact, he said, adding that none would lose their jobs immediately. Kelly Shay from the Liquor, Hospitality and Miscellaneous Union, says the move will also affect about 30 workers.
Financiers withdrew from the industry in the immediate aftermath, impacting the development of new centres which subsequently restricted the supply of new childcare centres.
ABC Learning — 10 years on 7 November November marks the tenth anniversary of the collapse of ABC Learning, which at the time was the largest publicly listed provider of childcare services globally. As a result this reinforced a recovery in supply of new centres and increased investor interest, including several high profile private equity investments.
Davison worked in hospital administration in Britain, then headed government agencies in South Australia.