Northern Rock is not the only fall-out from the economic crisis in the US over bad lending debts. Childcare is affected too. ABC nurseries, which bought up several American childcare chains, and also has substantial holdings in the UK, is in trouble. Its US nursery purchases have turned out to be a business failure as the recession bites, and women have lost their jobs or can no longer afford to pay for childcare. ABC was badly over-extended, and had too many debts.
If ABC goes belly-up, the Australian government faces the closure of 30 per cent of its childcare places. Australian ministers are anxiously watching the situation.
Register now to continue reading
Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's included
-
Free access to 4 subscriber-only articles per month
-
Unlimited access to news and opinion
-
Email newsletter providing activity ideas, best practice and breaking news
Already have an account? Sign in here
