International Language Academy of Canada shutters over bankruptcy
The International Language Academy of Canada says it has filed for bankruptcy protection and cancelled all classes and programming.
The International Language Academy of Canada (ILAC) has filed for bankruptcy protection, according to a notice posted on its website. The private language school, which has campuses in Vancouver and Toronto, cancelled all classes and programming. ILAC attributes its financial challenges to significant regulatory issues within the sector that have persisted for the past three years.
Despite doing "everything possible" to secure necessary resources, the school determined it could no longer continue its operations. KPMG Inc. has been appointed as the licensed insolvency trustee to oversee the bankruptcy process. ILAC, in a statement, expressed regret for the challenges its community will face due to this news.
The school operated for over 30 years, assisting international students in building both community and careers. Current programs, student services, and next steps will be communicated directly to those affected, with updates posted on the school's website.
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