DORE Australia collapse
Last updated Saturday morning, GMT. I’ve written a timeline of UK & international DORE goings-on in another post, will be updating there from now on instead.
An offer: if anyone wants to make available information about what is going on without revealing their identity, I’m happy to re-post stuff anonymously, unedited and in full. Bung me an email on brainquack at gmail dot com. Doesn’t matter what I think of the research, ATM even DORE staff internationally don’t seem to have definitive info, and I’d rather not leave people in the dark unnecessarily. I’ll add any other sources of info if you let me know too, official or otherwise.
DORE Australia have gone into ‘voluntary receivership‘ from May 15th, according to a note tucked away on the DORE forums published Sunday afternoon. ‘Creditor information‘ documents confirm this. DORE New Zealand seem to be still keeping appointments. Unconfirmed suggestions that following the creditor’s meeting on May 23rd they’ve gone into liquidation. Creditors (including staff & clients) are ‘unlikely to get their money back‘. DORE UK are also in administration, this has been confirmed by staff.
No gloating – I’d rather have the research they’ve apparently been planning to start (though a better look at the stuff they’ve said they’ve done would be nice too). I wonder if Australian families will get their money back from the rest of the DORE organisation?
More here as of Sunday 18th May lunchtime (GMT): Australian DORE customer has appointment cancelled, Gimpy’s latest – including comments from other DORE customers who’ve been let down, and it’s hit the DORE Yahoo group too, where USA staff don’t seem to know one way or the other what is going on. Still nothing on any official DORE site, though there’s been a few comments from parents on DORE talk.
Sunday afternoon: It’s official, DORE Australia are in ‘voluntary administration’. No info on what will happen next, or if parents will get their money back. More from DORE Australia staff on DOREtalk, who don’t seem to have been told much & are going home unpaid. Podblack, a (rather good) Australian EdPsych blogger, has explained a bit more about what might happen next under Australian law. She’s planning a visit when it’s Monday there, so worth a check later when I’ll be asleep. Holfordwatch have discussed the DORE official statement in more detail, so have I above.
Sunday evening: This rather interesting news dated Jan 08, c/o a comment by Tom on Gimpy’s blog reveals that DORE may have realised they needed to sort the financial side out for a while. Quote from Wynford Dore: ‘I have no hesitation in recommending Convex Capital to any company that wants to make more money, quicker’.
Monday morning: Creditor Information documents, c/o Gimpy. First creditor’s meeting is at Sydney Masonic Centre, Northcott Room, Fifth Floor, 66 Goulburn Street, Sydney, NSW on Friday 23 May 2008 at 11.30am. It also has the first helpful bit of information I’ve seen from DORE for parents ‘On 16 May 2008 temporarily suspended operations at clinics whilst business activities are reviewed. Clients with clinical questions should contact the company on 1300 55 77 11’ . Podblack has checked things out on the ground, apparently the only advice is to call back in 7 to 10 days, she also gives information which may be useful to ex-staff – check the comments for more from an ex-staff member.
Monday afternoon: Myomancy has picked this up, with an interesting question about intellectual property rights.
Tuesday night: more on the forums, seems DORE NZ are still going ahead with appointments.
Friday 23rd morning: The creditor’s meeting should have happened by now, without DORE ever announcing it to the parents who are creditors. A week on, there’s still only been the one post on DOREtalk as official notice of anything which is happening, and the Australian website is still up unchanged. Comment on Gimpy’s blog suggests that DORE Australia may have gone into liquidation, though of course this is as yet unconfirmed.
Friday afternoon: First media report. Programme & some head office staff have had their contracts terminated. The administrators say that creditors are unlikely to get their money back, will know whether the business is viable in the next few days.
Saturday 24th: Australian TV picks this up.
‘GILES WOODGATE, WOODGATE & CO: The company’s insolvent, they have substantial debts. They owe between $12 and $13 million and the assets aren’t there to match it.’