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April 06, 2007

LADO Goes Bankrupt - 4,000 without Classes

English conversation school chain LADO has gone bankrupt with debts of around 20 million dollars. LADO closed its doors without warning on April 5th leaving 4,000 students without classes. Some inside sources have suggested that part of the reason for the bankruptcy was the high cost of licensing the Spiderman character and ineffective use of the character in Lado's marketing.

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