OSAKA — Nova Corp.'s court-appointed administrators plan to sell 30 of the failed language school chain's 670 branches to G.communication grp. and liquidate the rest, making tuition refunds very unlikely.
Nagoya-based G.communication, which also runs cram schools and restaurants, said the takeover would happen immediately with an eye to resuming lessons and eventually running as many as 200 of the bankrupt Osaka-based chain's schools. It reportedly plans to accept paid-up Nova students and offer them classes at a discounted price.
"Our company has been unofficially selected to become a sponsor in order to fund Nova's operations," G.communication said in a press release late Tuesday without specifying details of the deal, which was announced before it could be approved by the Osaka District Court.