Truganina resident Intaj Khan offered to bail out ailing Mowbray College. 82203 Picture: JOE MASTROIANNI
By NATALIE GALLENTI and LAURA WAKELY
PREP to Year 10 students at the debt-laden Mowbray College will have their last school day tomorrow.
Late last week the State Government put forward $1.4 million so the school’s 276 VCE and International Baccalaureate (IB) Diploma students could complete their mid-year exams.
Mowbray College, which has campuses in Caroline Springs and Melton will be forced to close its gates at 5pm tomorrow after it was revealed the school was $18 million in debt.
The closure will jeopardise the education of more than 1200 students and leave more than 200 staff without a job.
Star can reveal that at least one investor approached the Mowbray College administrators to help bail out the prestigious school.
Millionaire businessman and Truganina resident Intaj Khan told Star last week he had expressed an interest in helping save the school.
The Western Institute of Technology owner approached administrators J P Downey & Co last week and said he was seeking a meeting with the administrators and mortgage bankers at NAB.
On Monday, he said he was still waiting to hear back about his offer.
“If the school is closed people may be scared to move to the western suburbs. There has to be alternatives to closing the school down,” he said.
“We’re just chasing up to find out what’s happened with our interest. But it looks like it’s (the school) definitely going to be liquidated.”
Administrator, Jim Downey, of J P Downey & Co, anticipated the school would proceed with liquidation.
Mr Downey said there had been no “sufficient amount” available to bail out the college.
“The closure is a highly regrettable outcome, however there is no alternative,” Mr Downey said.
“I have engaged at length with the State Government and the College financiers, to find suitable funding.
“In the absence of sufficient funding, I am left with no alternative but to progressively close the school by the end of Term 2.”
Education Minister Martin Dixon said the Department of Education and Early Childhood Development was working with families and the local school network to make sure students were accommodated at other schools.
A help line was set up on Friday for parents and students.
“This is a difficult time for everybody at Mowbray College. We are working to support families and help make the transition as easy as possible,” Mr Dixon said.
This is the second time in as many years that a school in Caroline Springs has buckled under financial pressure.
Last year ICA College, now Southern Cross Grammar, was at the brink of closing, until a last minute take over saved the school.
The College will be in contact with parents to let them know when they can collect any personal belongings remaining after Wednesday.
Mowbray College families can contact the Department on 9291 6524, 9291 6559 or 9291 6500. The lines will operate from 10am to 8pm on weekdays.
Alternately email community.stakeholders@edumail.vic.gov.au
