ABC Learning’s UK business sold – Receiver

THE receiver of ABC Learning Centres has sold the childcare group’s UK arm for an undisclosed sum.

ABC’s UK business, called Busy Bees Group, was purchased by Singapore-based company Knowledge Universe Education, Chris Honey of McGrathNicol said today. 

Mr Honey said Busy Bees Group, which is the UK’s largest children’s nursery group, will continue to be operated by its existing senior management.

“As receivers, we are very happy with the value realised for this business, and are pleased to have sold it to an internationally respected childcare provider,” he said.

He said Busy Bees Group was in a similar situation to ABC’s business in New Zealand, as it was not itself in receivership and had continued to trade profitably.

Mr Honey said the sale of the ABC in New Zealand was progressing well and that strong interest from a number of bidders had led to an extension of the sale timetable.

Mr Honey said no decision had been made yet on a timetable for the sale of the Australian business.

“The ABC Learning centres in Australia continue to trade well, with the focus remaining firmly on providing high quality childcare, driven by the local ABC centre staff at a community level,” Mr Honey said.

ABC, Australia’s largest childcare centre operator, went into administration and receivership in November 2008, owing more than $1 billion.

Source www.news.com.au

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Barnett’s 9pm shop hours plan under threat

Perth  shops may be staying open until 7pm or 9pm.                                                                                         

Colin Barnett  preference for 9pm is already being challenged by Labor MPs insisting on a 7pm closing time.

Colin Barnett wanting extended shopping hours 9pm, while remaining opposed to relaxing the restrictions on Sunday trading, he needs Labor support to pass the changes. 

National Party leader Brendon Grylls, has stated he will not support the Liberals on any extensions to weeknight trading hours. 

Mr Catania this week circulated a letter to his colleagues urging them not to support more shopping hours in Perth. 

Oppostion feel there is no need to change the current trading hours in WA . 

They feel they will  only benefit Coles and Woolworths , no other retailers will open.

Harvey Norman, Myer and David Jones have stated they will continue to close the doors at 5.30pm they will not change their closing hours.

Four years ago a referendum was held and  rejected to extend trading hours.

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