JB Education

Private schools: "biggest bankruptcy after Saab"

One of Sweden's biggest private school companies has gone bust, affecting over 12,000 pupils and staff, and now Dagens Samhälle reports that several of the companies that are to take over the schools have an uncertain background.

Of the 36 schools that the defunct JB Education firm ran 26 will be taken over by new owners, who have been passed by the School Inspectorate. But magazine Dagens Samhälle reports that one of the new owners is a private school fir already losing money, and two other firms are newly founded and lack any financial history. One is the creation of the former head of JB Education.

The bankrupt firm had debts of over a billion Swedish krona. The lawyer administrating the bankruptcy, Mats Emthén, says to Dagens Samhälle, that this collapse is one of the biggest bankruptcies in modern Swedish history, ranking only behind car firm Saab, because of the number of people affected.

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