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Australian government provides A$22m as ABC Learning goes into administration and 400 childcare centres face closure

publication date: Dec 1, 2008
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ABC Learning, the listed Australian nursery provider, went into voluntary administration last month owing A$1.66bn (£709m) of which A$900m (£384m) is owed to secured creditors, including banks. To keep the company's centres open until Christmas, the Australian government has injected A$22m (£9m) into the business.

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