Educational supplier Education Works has entered administration, with the group trading under the names Wooldridges, Elizabeth Richards, Jacaranda Educational Supplies, World of Education and Fotoworks, all of which are household names in Western Australia.
The group serves the primary and secondary school market mainly in Western Australia, but also has a presence on the east coast, providing textbooks, stationery and general classroom needs.
Andrew Sallway, Said Jahani and Matthew Donnelly of Grant Thornton have been appointed as administrators.
The Education Works website describes the company as “Australia’s leading educational supplier”, specialising in back-to-school booklists and educational resources for teachers, students, in the classroom and at home.
“Distributing to schools and the local community, the Education Works group is dedicated to the promotion of learning and the concept that ‘education works’,” the website says.
In a statement announcing the administration, Grant Thornton partner Said Jahani said 85 employees of the group would be made redundant “due to insufficient funding being available to continue to employ staff”.
“We are urgently assessing the future viability of the group, including whether a sale of all or part of the business is capable of being achieved and have been encouraged by a number of approaches by interested parties already,” Jahani said.
The administrators are working towards determining whether a potential buyer would be interested in employing any of the workforce.
Grant Thornton will undertake an investigation into the companies and their affairs and will report to ASIC and creditors.
A creditors’ meeting is scheduled for August 6, 2012.
The education supplier showed signs of strain earlier this year when it closed its Wooldridges retail stores in Magill, South Australia and Moorabbin, Victoria.