HEI Schools’ seeks new buyer for Lara service following liquidation

Freya Lucas

Nov 13, 2024

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HEI Schools on Buckingham St in Lara, a suburb in Geelong’s north, has been placed into liquidation.

The long day care centre, which opened in 2019, educates and cares for 131 children aged between six weeks and five years of age, and is owned by Finnish Early Childhood Education (Lara).

Parent company Finnish Early Childhood Education (Australia) is majority owned by Hong Kong-based investors, local news source Geelong Advertiser reports.

Melbourne firm Dye & Co was appointed liquidator on October 29, according to Australian Securities and Investments Commission (ASIC) documents, following the Australian Taxation Office making an application with the Federal Court in August.

In wake of the service being placed into liquidation the current centre manager advised that she would resign from her position, allegedly sharing the following with families:

“It is with great sadness that I need to inform you that this coming Friday will be my last day,” she told parents in a message on Tuesday.

“With the situation with the company, I have made the hard decision to leave.”

Finnish Early Childhood Education has 20 individual entities listed on the ASIC register, including four based in the Geelong region. It is important to note that the Lara facility is the sole operation being liquidated.

Lead liquidator Nick Giasoumi of Dye & Co said parents were contacted and assured the centre would continue to operate while a new buyer was sought.

“The centre will continue to trade as a going concern,” he said. “They (the current owners) have done the hard yards and hopefully a new owner can come in and capitalise.”

HEI Schools was approached for further comment however did not reply in line with publication deadlines.

Access the original coverage of this story here.

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