Originally Posted by
Q Shoe Guy
Nova declared bancruptcy (or some version of it) late last night. Only 5 billion yen in debt ! Still in Japanese for now, but is available on the major Japanese news sources for those that can access.
Actually 5 billion yen is a bit low I think. Simul went under with about 5 schools and 9 billion in debt. By the way, the company got picked up by Benese/Berlitz for 18 cents on the dollar (debt).
Is the Giganet valuable? I first read about it on letsjapan.
9 shoe guy, if I were you, I would be acepting Nova coupons for free lessons to bring in new customers.
By the way, when I meet anyone from Nova in a bar now, they get a free drink from me.
Update. The debt is around 50-60 billion yen (500 million dollars).