Vietnamese English-school chain Apax Holdings, which operates Apax Leaders English centres throughout Vietnam, has become embroiled in yet more controversy after closing centres without refunding students’ tuition fees and owing its teachers unpaid salaries.
The last quarter of 2022 proved particularly disastrous for the company, with it recording an epic loss of almost VND93 billion (US$3.9 million), according to Tuói Tré News.
It’s now planning on re-opening 74 of its centres, with 30 allegedly ready to go, but for those parents who have paid fees yet are unable to find a school near enough for their child to attend, Apax has a novel solution: it’s asking these parents to convert their pre-payment into an interest-receiving loan to the company.
As many parents have previously complained that Apax Leaders was charging tuition for courses that were never provided – even before the latest closures – they might be wise to get their money out now.
