Bank Repossession

  Australia's reputation as an international education destination was dealt another  severe blow  with the collapse of a group of companies  ( GEOS COLLEGES) which run English language schools nationwide. Collapse of Geos colleges Administrators from Ernst and Young came to the conclusion that the GEOS group could not afford to keep its eight Australian colleges running. Ernst and Young has been appointed voluntary administrators to private English language school GEOS Perth and eight other affiliated companies, affecting a total of 2,300 students from a number of countries. About 400 staff will lose their jobs and 3,000  overseas students in cities across Australia are left hanging. The group owed some students thousands of dollars. "It would appear that at least some of the schools have traded profitably, so the question of where the money has gone is one which needs attention.GEOS is a Japanese company which owns hundreds of colleges around the worl