The latest in an e-mail from my Swedish friend who is watching the state of education there and despairing:
News about free schools.
One of the nation’s largest private school groups, JB Education, sells or closes its secondary and elementary schools.
The Danish owner, private equity firm Axcel, is expected to shortly announce that the Group discontinued because it was not possible to find the money to cover the losses.
Have they taken too much money out of the company?
Now municipalities take responsibility so that students can continue their education.
It has been a political settlement of open financial accounts and demands on the quality of teaching. It might have scared venture capitalists. They do not have protected the schools’ quality, but merely defended their money.