A number of education and training institutions deliberately closed down or ran away with money, becoming a popular escape industry

1. Following physical factories and Internet finance, education and training institutions seem to have become a new industry that loves to run away. On August 12th, an education and training institution named Holland Education was exposed that the CEO took away all parents' class fees and study abroad consulting fees, concealing that all employees, teachers, parents, etc. absconded back to the UK, which was shocking.

2. First of all, education and training institutions have generally been greatly affected recently, and there have been many layoffs, but it is also surprising that they have run away with such a blatant volume of money. It is said that the CEO of Holland Education is a British man named Jake Hall. He hurriedly declared bankruptcy through a video and refused to have any explanation for the debts owed. He also shut down the company's servers and employees' mailboxes. What he did when he ran away was quite complete.

3. Secondly, the collapse of Wall Street English before was even more astonishing. Its scale is even larger. In March 2018, Pearson Group announced the sale of Wall Street English for US3300 million. The buyers are Baring Asia Investment Fund and Citic Capital's private equity fund. But educational and training institutions worth hundreds of millions of dollars are all falling down. It is reported that starting from August 12th, the person in charge of sales in the North District of Wall Street English notified the person in charge of each central branch that the company will officially declare bankruptcy next week, and asked the person in charge to notify the employees of each branch to go through the procedures for leaving as soon as possible. 

4. In addition, the common feature of these institutions is that the executives are foreigners, and when they go abroad in an accident, no one can find them asking for money to defend their rights. For example, Wall Street English employees said that the company has been in arrears for several months, and they are currently unable to contact the company's senior leaders, and the employees are also defending their rights. As of 12 noon on August 14, more than 6,000 students had participated in the registration, involving a contract amount of more than 480 million yuan, and this number continued to increase.  

4. The same is true of the aforementioned Holland Education. All the executives except for one Taiwanese are all British, and they have been unable to contact or absconded back to the UK. 

It seems that nowadays, not only Chinese people have to run away when opening a company, but also foreigners who run companies in China have to beware. They will also run away. For the trick of running away, it seems that Chinese and foreigners are all the same, and they are all easy to learn.