AUSTRALIA's second largest childcare centre provider CFK Childcare Centres yesterday appointed Michael James Humphris, Andrew Peter Fielding and Geoffrey Trent Hancock of BDO Kendalls as voluntary administrators.
The company which owns 40 centres had been unable to complete the sale of childcare centres to ABC Learning Centres for $8.5 million and as a result, it cannot meet one of the preconditions to any standstill arrangement with its banker NAB, and cannot complete its 2008 Financial Report.
The company had depended on the sale of the assets, CFK said it was losing over $400,000 per month.
Australian Property Journal
