EC head Andrew Mangion says business explored ‘every realistic avenue’ to stay afloat

EC Executive Chairman Andrew Mangion said the English language school business exhausted every realistic option to stay afloat before ultimately deciding to wind up operations.

“Our team worked incredibly hard to build and sustain this company,” Mr Mangion said.

“Our shareholders, employees, partners and advisers have made enormous efforts to give EC every possible opportunity to succeed.”

“Together with our professional advisers, we explored every realistic avenue available to us to secure new investment and a sustainable future for the Group.” 

“At every stage, we sought to act in the best interests of our students, employees, creditors and partners. It is therefore with profound sadness that we have reached this point.”

EC was established in 1991 by Mr Mangion’s mother Marguerite Mangion, who opened the first EC English school in her own home.

It later grew into an international organisation, with schools in the UK, Canada, Ireland, South Africa, and the UAE. 

The education group said it is closing down due to challenging financial conditions and a failure to secure additional investment in a manner that would safeguard the interests of creditors. 

“EC has been much more than a business to those of us who have built it and worked within it,” Mr Mangion said. 

“It has been a community of extraordinary people united by a belief in the power of education to bring people and cultures together.”

“Our thoughts today are first and foremost with our students, our employees and the many agents and partners who have supported EC around the world.”

“We are committed to working closely with the appointed insolvency professionals and relevant authorities to ensure that the wind-down is conducted fairly and transparently, and that the interests of creditors and all stakeholders are properly protected.”

Cover photo: Andrew Mangion/ LinkedIn