Apax Leaders stopped refunding tuition fees to parents, after 'Shark' Thuy was arrested for alleged fraud and property appropriation.
In a statement on March 26, Apax English Joint Stock Company - owner of the Apax Leaders English teaching center chain, said it would temporarily stop confirming tuition fees and tuition debt with parents while authorities investigate. The company also stopped refunding tuition fees until there is a conclusion from the authorities.
"Apax hopes to receive understanding and support from parents," General Director Doan Thi Thanh Thuy said in the announcement.
Apax Leaders also affirmed that the arrest of Mr. Nguyen Ngoc Thuy "has absolutely no impact" on the operation and teaching at the centers that are open. 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," said Ms. Thuy.
Apax Leaders Center in Phu Nhuan District, Ho Chi Minh City closed on March 4. Photo: Huyen Nhung
Apax Leaders is a chain of English teaching centers for children belonging to Mr. Nguyen Ngoc Thuy's Egroup ecosystem. Since the end of 2022, the chain has been complained by many parents in Ho Chi Minh City, Hanoi, Dak Lak, and Da Nang because many centers have closed, the teaching quality is not as committed, "taking money and abandoning customers" and demanding tuition refunds.
Mr. Thuy then restructured and announced the completion of the first phase at the end of March 2023. At that time, the chain had 38 centers, mainly in the North. However, the reopened centers also closed one after another. The management explained that due to low revenue, mainly from re-admitting old students who had paid their fees in advance, new sources of money were still limited. As for the centers in Ho Chi Minh City, Mr. Thuy said they faced "particular difficulties" because parents came to "besiege" them to demand tuition fees.
After many negotiations, by March last year, the parents were divided into two groups by Apax Leaders with different repayment schedules. Many parents in group 1 received their full money back, through three installments, lasting from June to August 2023.
The second group was promised to pay back tuition in five installments of 20% each, expected from October 2023 to April 2024. However, the company later reneged on its commitment and proposed a new repayment schedule, extending to the end of 2025, before announcing insolvency at the end of 2023.
According to information from the Department of Education and Training in mid-March, in Ho Chi Minh City, Apax Leaders still owes parents nearly 94 billion VND in tuition fees.
Siddhartha
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