Apax Leaders still owes parents nearly 94 billion VND in tuition fees, and requests to pay 4.5 million VND per person per quarter, from 2025 until the end.
The information was stated in a report sent to the Ho Chi Minh City People's Committee on the situation of Apax Leaders foreign language centers by the Department of Education and Training on March 11. According to the Department, in the past, Apax had nearly 11,300 students in Ho Chi Minh City. After 39/41 centers stopped operating, parents of 4,400 students wanted to withdraw tuition, 6,000 students reserved their studies and 839 students were studying.
Apax said the total amount to be paid to parents is more than 108 billion VND, of which about 14.2 billion has been paid. This unit proposed a plan to gradually pay off the debt from 2025, paying each parent 4.5 million VND each quarter until it is paid off.
In addition, Apax owes 11.5 billion VND in salaries for teachers and staff; and owes 9 billion VND in rent. According to information from the Social Insurance and the Ho Chi Minh City Tax Department, the Apax Leaders branch is also 32 billion VND behind on insurance for employees and 15 billion VND in taxes, as of the end of last year.
Apax Leaders Center in Phu Nhuan District closed on March 4. Photo: Huyen Nhung
The department said that during the meeting on March 6, Apax requested to dissolve 26 centers, reorganize and relocate 13 centers. With two centers operating in District 6 and Phu Nhuan, Apax also proposed to temporarily suspend operations until June. Apax representative said that the company is facing many financial difficulties, only having enough funds to teach online and review for students. The company needs more time to develop a plan to resolve current debts and problems.
According to the Department of Education and Training, Apax needs to report a specific tuition payment plan and roadmap to parents before March 15. Of the 39 Apax centers that are currently suspended, the Department will decide to dissolve 26 centers. The remaining 13 centers will be resolved after the Department reviews legal documents and evidence.
At the same time, the Department will mobilize local foreign language centers to support and accept Apax Leaders students with preferential tuition fees, in case these centers cannot continue to operate.
Apax Leaders is a chain of English centers for children, licensed since 2016. On its website, the company says it has 120 centers nationwide, with about 120,000 students.
In 2020 and 2021, many parents paid for their children to study English at Apax Leaders but had to stop because the centers closed. After many negotiations, in March last year, Apax divided them into two groups 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 their tuition fees in five installments, each of 20%, from October 2023 to April 2024. However, Apax later failed to fulfill its commitment. Hundreds of people flocked to the center in Phu Nhuan district to demand payment. Apax proposed a new repayment schedule, extending until the end of 2025, before announcing its insolvency at the end of 2023.
Le Nguyen
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