NOVA Corp is the Japan’s largest English conversation school chain. And for those who teach English in Japan and are employed by Nova I say… DOH! I read the news back in April of 2007 when Nova got busted for breaking the law (they refused to refund tuition fees to students who canceled their contracts.) And recently people have not been getting paid for their work. Today things have gotten worse and Nova has filed for protection from the courts. More and more people are starting to teach English online using Skype which is a good thing when major corporate disruptions like this happen.
I wonder what this means for current employees and their work visas. Not only that but if an employees income stops or is slowed it could mean trouble for their living expenses. Damn.
Check out the news from Yahoo
Nova Corp , the largest operator of English language schools in Japan, said on Friday that it has filed for court protection from creditors amid efforts to turn around its business.
Following the company’s announcement, the Jasdaq Securities Exchange said it would delist Nova’s shares on Nov. 27.
Nova, which operates over 900 schools in Japan, posted net losses for the past two business years and said it held a total 43.9 billion yen in debt as of July.
More on this:
Aussie teachers lose jobs in Japanese school shutdown
Nova applies for court protection from creditors; president missing, 4 execs resign
Scandal-tainted school Nova granted court protection from creditors