Australia’s largest private child care operator slashes 40 centres
G8 Education, Australia's largest private childcare operator, plans to close up to 40 centres due to declining occupancy, rising costs, and ongoing fallout from a childcare sex abuse scandal. The company cited falling demand, reduced public confidence, and increased compliance expenses as key factors behind the decision. G8 does not expect a near-term recovery in occupancy levels and is reviewing its operating model. The announcement follows a sharp drop in the company's share price and loss of investor confidence.
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