GEOS Bankrupt?

Australian newspapers (Melbourne Age, Sydney Morning Herald) are carrying the news on front pages.
2,300 students & 390 staff in Australia found out yesterday (Jan 29th) when they arrived for classes in Melbourne, Adelaide, Sydney, Gold Coast, Cairns, Brisbane: school doors locked with a notice to contact the Administrators Ernst & Young.

Does this affect GEOS Japan? Yes. It is fairly common knowledge that GEOS has been in trouble for ages; wages of local staff has been late/unpaid since at least September 2009 in Japan. Has the company denied this? Yes. GEOS website is silent, and GEOS head office in Tokyo responded tonight "What are you talking about?". Question is, why are they in the office at 9pm on a Saturday night?! Financially, GEOS relies on overseas income (especially from Australia) to pay the bills in Japan.

Does any of this sound familiar to anyone? Very good link with up to date news here. Have a nice weekend!