PPB Advisory developed an innovative program where buyers were found for more than 90% of centres.
Following the collapse of the listed parent, ABC, more than 262 childcare centres, with 18,000 children and 2,300 staff, were deemed unviable and at risk of closure.
While managing the ongoing trading of all centres under extremely tight timeframes and within a highly-charged environment, PPB Advisory developed an innovative program where buyers were found for more than 90% of centres, maintaining care and employment for the children and staff.
This involved extensive negotiations with more than 110 parties and over 85 landlords. In addition to parents and employees, we were also proactive in managing expectations of government, unions, communities and the media.
- 237 (90.5% ) centres were sold to new operators
- 24 (9.2%) centres were closed with all children ‘transitioned’ to alternate child care providers
- Only one (0.4%) centre was closed with no ‘transition’ solution available to children