Apax Leaders stopped returning tuition to parents, after 'Shark' Thuy was arrested for allegedly fraudulently appropriating property.
In an announcement on March 26, Apax English Joint Stock Company - owner of the Apax Leaders English teaching center chain, said it will temporarily stop confirming tuition and tuition debt with parents while authorities investigate. check. The company also stopped refunding tuition until there is a conclusion from the authorities.
"Apax wishes to receive the understanding and companionship of parents," General Director Doan Thi Thanh Thuy stated in the announcement.
Apax Leaders also affirmed that Mr. Nguyen Ngoc Thuy's arrest "has absolutely no impact" on the operation and teaching at currently open centers. The centers include: Hoang Dao Thuy (Hanoi), Cam Pha, Uong Bi (Quang Ninh), Le Hong Phong (Hai Phong), Ha Nam, Vinh Phuc, Hung Yen, Ha Tinh and Thanh Hoa.
"The board of directors and directors are committed to maintaining the continuous operation of the centers to ensure the learning rights of students," Ms. Thuy said.
Apax Leaders Center in Phu Nhuan District, Ho Chi Minh City closed on March 4. Image: Huyen Nhung
Apax Leaders is a chain of English teaching centers for children under the Egroup ecosystem of Mr. Nguyen Ngoc Thuy. Since the end of 2022, the chain has received complaints from many parents in Ho Chi Minh City, Hanoi, Dak Lak, and Da Nang because many centers are closed, the quality of teaching is not as promised, "holding money and abandoning customers" and asking for money. Request a tuition refund.
After that, Mr. Thuy implemented restructuring and announced the completion of the first phase by the end of March 3. At that time, this chain had 2023 centers, mainly in the North. However, the centers that reopened also closed one after another. The board of directors explained that due to low revenue, mainly accepting back old students who had previously paid fees, new sources of money are still limited. As for the centers in Ho Chi Minh City, Mr. Thuy said they encountered "special difficulties" because parents came to "besiege" them demanding tuition fees.
After many negotiations, in March last year, parents were divided into two groups by Apax Leaders with different repayment schedules. Many group 3 parents have received all their money back, through three installments, lasting from June to August 1.
The second group is promised a tuition refund in 5 installments, each installment of 20%, expected from October 10 to April 2023. However, the company then did not fulfill its commitment and proposed a new debt repayment schedule, lasting until the end of 4, before announcing its insolvency at the end of 2024.
According to information from the Department of Education and Training in mid-March, in Ho Chi Minh City, Apax Leaders still owes parents nearly 3 billion VND in tuition fees.
Siddhartha
