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Pacific Lease Files For Bankruptcy
Another piece of NOVA dies.
Nikkan Sports (your source for business news) reports that Pacific Lease, Nova's consumer credit company, has filed for bankruptcy.
Pacific Lease was set up in 1991 to offer loans to students, and once NOVA went under, it essentially ceased all operations. The company apparently had debts of ¥4.6 billion.
ＮＯＶＡグループの信販会社が破産
経営破たんした英会話学校ＮＯＶＡグループの信販会社、パシフィックリース（大阪市）が大阪地裁に自己破産を申請し、破産手続きの開始決定を受けたことが、１９日分かった。決定は７月２４日付。民間信用調査会社の帝国データバンクによると、負債総額は約４６億円。
パシフィックリースはＮＯＶＡの全額出資子会社として１９９１年に設立。授業料など受講生向けローンを手掛けていた。ＮＯＶＡが破たんして以降、事実上事業を休止していたという。
ＮＯＶＡの英会話教室事業を引き継いだジー・コミュニケーション（名古屋市）とは資本関係などはない。
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Comments
c'est la vie
that's what happens when you mix a big ocean with eikaiwa.....
I thought Nova was a school, not a loan shark operation.
Nah, only joking.
So, even the loan shark side of that revolting place has imploded!
Seriously, I have never encountered such broad scale and public hoodwinking in my life, as what I witnessed with regards to Japan and Nova.
How any moral or sane person could have worked for them, or anything like them, is totally beyond me.
Sick, disgusting.
Are the Japanese consumers plum stupid?
Thank God Nova is gone ! THANK GOD !!!
"So, even the loan shark side of that revolting place has imploded!"
Yeah, but apparently the brothels, and contract liing operations are still turning a healthy profit.
I thought your mail a trifle histrionic. Nova was an iffy language school, with a dodgy owner. Not SPECTRE
Oh God, not more stuff on Nova, which would have to be the most emetic place to have found oneself in, in the history of the entire universe. The mere mention of the name Nova, and I feel nauseous. To think, people are still actually working for its replacement, G Con, is quite stomach turning.
Ugh! Yuk! Excuse me, I have to get out of here, I am going to barf……….
Unbeatable hand
I am going to Projectile vomit...
And then commit suicide
I can't stand being a former AAM, who everbody said they hated, but secretly loved, who never hurt nobody, and was abused by Nova, made fun of by lazy, predatory teachers, who were responsible for bringing the company down...
Have I missed anything?
Goodby cruel world
Uuuugh!
The teachers?
I don't think you can blame the teachers for bringing down NOVA. NOVA was a shady English school with questionable business practices. Eventually the body politic became aware of this and sanctioned Nova, cutting off their cash flow. Any company would go bankrupt under those circumstances.
We are Anonymous
We are legion
We do not forgive
We do not forget
Expect us.
Eikaiwa , in particular NOVA was created to fail.The whole system largely survives on the whims of very superficial people so is it no surprise when something goes tits up?
Really, it is to be expected so anyone working in any eikaiwa related job should be prepared for the inevitable and have a back up plan and be ready to move on, even if that means going to another eikaiwa.
It will never improve (at least not in our generation) because the customer doesn`t want it to and an improvement would mean it wouldn`t be eikaiwa anymore thus defeating the whole purpose of it all.
Not sure I completely agree, as I think many of the customer/students are quite discerning...
They joined LD2 School of English, ...my school. Heh heh
Nova was just another company in Japan. Not too big, not too small, not any more or less corrupt or honest than any other. It's just that we gaijin got a glimpse inside and saw all the crap that goes on. I can guarantee you that there are a whole raft of worse horror stories out there of seemingly respectable companies that are breaking the law, abusing staff and customers and still in business. They sell insurance, make the food you eat, care for the elderly, you name it! If you could peek inside you would scream! I have a friend who was asked to falsify American USDA government inspection certificates and refused. He lost his job, sued and won. But this is normal! Another friend, an insurance salesman for a large national company, was told to harrass her client companies to make them buy fake insurance policies on nonexistant employees to make business look good! She wanted to quit but her dad told her she had to stay and "learn the trade" and "get a good reputation with your boss"! Then there are the stories we read in the newspaper where illegal food handling practices sicken and even kill their customers. They apologize (Snow Brand for example) and go right on doing it!!! We ex-Novaites should be happy that they didn't take away our passports and make us work in bars and stripclubs! Some schools have done that!