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April 26, 2010
Geos president trying to stop bankruptcy proceedings
Tsuneo Kusunoki, the founder and president of Geos, is trying to stop the bankruptcy proceedings. He disagreed with the decision to declare bankruptcy and says: 'A company has come forward to extend financial support to Geos so it does not have to go bankrupt'. It seems likely that Kusunoki will try to halt the proceedings when a hearing is held by the Tokyo High Court.
The Mainichi Shimbun reports: 'Stopping the bankruptcy proceedings, however, may be difficult as it has already been decided that of the 329 schools operated by Tokyo-based Geos, 230 will be handed over to G.communication Co., a Nagoya-based company which took over the assets of another bankrupt language school operator, Nova Corp., in 2007 and turned them into a profitable operation.'
Geos has published a list (in Japanese) of the schools that are definitely closing. Click here if you would like to see whether a school in your area is on the list. Click here to see the list of schools that are being taken over by G.communication.
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