Wall Street English To Declare Bankruptcy

According to a report from China Business News, the head of sales of Wall Street English notified the principals of the central branch schools that the company will formally declare bankruptcy next week, and requires the principals to notify employees of the branch schools to complete resignation procedures as soon as possible.

Public information shows that the parent company of Wall Street English is the education and training company Pearson Longman Group, the world’s leading publisher and supplier of English language teaching content.

Wall Street English has more than 400 centers in 28 countries and regions around the world, helping more than 2 million people around the world successfully improve their English practical skills. It entered the Chinese English training market in May 2000, and currently has 66 training centers in 11 cities across the country, including 16 training centers in Beijing.

In June of this year, Shanghai imposed a fine of 10 million yuan on four off-campus training institutions, including Wall Street English.

According to the official Weibo of Shanghai Market Supervision, due to false propaganda and price fraud, the Shanghai market supervision department imposed top-notch penalties on 4 off-campus training institutions, including DaDa English, Headmaster One-to-One, Wall Street English, and Elite Education.

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