ABC childcare centres' fate undecided

JOHN KIRK-ANDERSON/The Press

'BUSINESS AS USUAL': Parents of more than 7700 Kiwi youngsters are still waiting for the sale of their children's ABC childcare centres.

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Parents of more than 7700 Kiwi youngsters are still waiting for the sale of their children's childcare centres.

ABC announced last year that its 127 New Zealand centres and the Christchurch College of Early Childhood Education would be sold.

The announcement came after the Australian parent company went into receivership.

Expressions of interest from potential buyers closed on March 6 and general manager Craig Presland said it planned to announce sale details that month.

Four potential buyers, who were all from New Zealand, were shortlisted. No announcement has been made.

"Our discussions with shortlisted parties continue," Presland said yesterday.

"We hope to be able to make an announcement over the next few weeks."

The centres were still operating well and it was "business as usual", he said.

However, a source told The Press there was reluctance to sell the centres because the business was doing very well and the offers were considered unreasonably low.

"At the moment, they really don't want to sell them ... Three of the four parties have made offers and they just haven't been enough money, so they're just running them basically," the source said.

"The parties that made offers to the tender just weren't willing to offer enough money. The receivers are not answering their calls at the moment. They've gone to ground and they want to trade them as usual."

A spokesman for Australian receiver McGrathNicol said the New Zealand sale process was "proceeding satisfactorily".

In a statement last week, the Australian Education Trust said the sale process for the New Zealand business was expected to be completed before July.

ABC employs 1410 permanent staff and 694 casual staff in New Zealand. .

- © Fairfax NZ News