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GEOS Goes Belly Up!

Karen

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Everyone remembers NOVA? They essentially got taken over by G. Communications and now we have GEOS going belly up.

Sources:

http://www.japantoday.com/category/business/view/english-school-operator-geos-corp-goes-bust

JT said:
TOKYO — Major English school operator Geos Corp said Wednesday it has filed bankruptcy proceedings with the Tokyo District Court.

Some of its educational business will be handed over to G.communication Co based in Nagoya, the company said. Geos, which had debts of 75 billion yen, has about 300 schools nationwide.

(Japanese) http://headlines.yahoo.co.jp/hl?a=20100421-00000546-san-soci

Could this be another influx of out-of-work foreigners, flooding the market further?

I don't teach English but have friends that do... only can wait and watch to see what transpires!
 
Don't know whether I should laugh or just shrug my shoulders and say: "Figures."

I only have one friend that's teaching English as a regular job, but he doesn't work for GEOS or G.Communications. I'll have to check in with him to see how things are going. Letsjapan.org has had a number of threads going predicting/discussing the demise of G. Communications and GEOS. Refer to my statement above. (Figures!)
 
Just saw this on the news ticker, English schools are indeed a dying breed. :(

Once a great way to come to this country, that glory ended long ago.