GEOS English Conversation School goes bankrupt, but some classrooms will continue to operate
GEOS, the English conversation school best known for its commercial song 'GEOS English Conversation School,' filed for bankruptcy proceedings with the Tokyo District Court today, and the petition was accepted.
This will result in the closure of the English conversation schools, but some schools will remain open as part of the business has been transferred.
Click here for details.
(PDF file)
According to a release issued by GEOS, since its founding in December 1986, the company has been operating English conversation schools and creating and selling language learning materials, expanding its network of English conversation schools across the country. However, since 2007, the economic downturn, strengthened regulations such as the Specified Commercial Transactions Act, and a decline in trust in the industry itself following the bankruptcy of major English conversation school NOVA have led to a decline in the number of students and sales.
In response to this situation, GEOS took measures such as reducing expenses by closing and consolidating unprofitable schools, improving management by strengthening its sales structure through organizational reforms, and granting deferrals on loan repayments from financial institutions.However, GEOS was faced with the situation where eight of its Australian subsidiaries closed their English conversation schools due to a lack of funds in its advance payment protection account, and as a result, it was unable to continue making expenditures, including public taxes and charges.
This is a TV commercial that was previously aired.
YouTube - Nostalgic CM 1993 Mid-3
Some of GEOS's operations will be taken over by G-Communications in Nagoya, and the link below lists the classrooms that will be closing or remain open.
(PDF file) Schools scheduled for closure | GEOS for English conversation and study abroad
(PDF file)
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