The International Language Academy of Canada says it has filed for bankruptcy protection and cancelled all classes and programming.
A notice posted on the private language school’s website, better known as ILAC, says it has faced growing financial challenges over the past three years due to what it calls significant regulatory challenges affecting the sector.
The notice says the school had done “everything possible” to ensure it had the resources it needed to operate, but it could no longer continue to operate.
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It says the school, which had campuses in Vancouver and Toronto, was working to minimize impacts on students, employees and partners.
The notice says KPMG Inc. has been appointed as the licensed insolvency trustee, and additional information about the process will be issued soon.
It says the bankruptcy filing was made Friday.
“We understand and deeply regret the challenges our community will face because of this news,” the statement says.
A separate statement on the school’s website says ILAC had operated for more than 30 years, helping international students build community and careers.
“Information regarding current programs, student services and next steps will be communicated directly to those affected and will be updated on this website as information becomes available,” it says.
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