After not having paid their Japanese staff since July and a continual delayment and postponement of payment to the foreign teachers, Nova has finally filed for bankruptcy today. I have been following the financial crisis at Nova online for a long time... Even though the company couldn't pay their current staff, they were still recruiting new teachers totally oblivious to Nova's troubles. Even this week some new teachers arrived in Japan, just to return home because there is nothing waiting for them here.
For weeks, I've been keeping an eye on the Nova school in our street, which is right next to the konbini where I get my iced coffee everyday. And it always surprised me when I found the school in business, but today they've finally closed their doors and put a bankruptcy notice up. It was about time, they couldn't keep making empty promises to their staff, I'm amazed they managed it for this long.
For people (mostly Dutchies) who have no idea what Nova is:
Nova was another language school in Japan, with a marketshare of about 50-60%. It was the biggest and most (in)famous English conversation school (eikaiwa), and now that it has gone bankrupt about 5000 native teachers are looking for a new job or a way home.