College of Australian Training goes into voluntary administration, affecting 450 students
The College of Australian Training has gone into voluntary administration, leaving 450 hospitality, hairdressing and beauty students' education uncertain.
The organisation, which has 35 locations across Australia, has blamed recent Federal Government changes to TAFE funding for its downfall.
Administrators hope to sell the business, and have been encouraged by the interest shown so far.
"It is far too early for us to definitively say why the company got into financial difficulty," administrator Sam Kaso said.
"But according to management the company suffered, like a large number of other companies in the sector, from recent commonwealth government changes to VET FEE HELP legislation.
"We are seeking urgent expressions of interest for the purchase of the business as a going concern that will hopefully provide continuity for the students and ongoing employment for the staff."
The company is Queensland based and has colleges in Townsville, Cairns, Maroochydore and the Gold Coast.
The first creditors meeting will be held in Brisbane next Tuesday.
Source: ABC News