Child Care Provision In Australia. The Impact of the Collapse of a Large Provider. Background. Child Care in Australia. Child care provision exist in Australia has a strong emphasis on provision by private-for-profit providers. In 2004-05 of all child care services:
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Child Care ProvisionIn Australia
The Impact of the Collapse of a Large Provider
What was Wrong with ABC?
March 2008 – Reports Eddy Groves had sold almost all his stake in the company. ABC’s share price plummets. Company enters voluntary trading halt.
September 2008 – Company cannot provide end of year results- leads to further drop in share price and trading halt extended.
24 September 2008 -Child Care Industry Taskforce (CCIT) established.
30 September 2008 - Eddy and Le Neve Groves resign all management and Board positions at ABC Learning
10 October 2008 - ABC Board acknowledge that their financial circumstances are far more serious than was previously apparent to them.
6 November 2008 - ABC Learning enters voluntary administration and a Receiver is appointed.
Australian Government Response
Of the 262 ABC2 centres: