Italian-based English training company Wall Street English (WSE) is reportedly facing bankruptcy in China. The company has started closing its centers since the pandemic broke. But the recent tutoring ban has aggravated the company's finances further.
Wall Street English's financial woes
Founded in students around the world. It is currently operating in 39 learning centers in 11 Chinese cities following the establishment of its first learning center in 2000.
The Global Times reported that Chinese students enrolled in WSE are filing lawsuits for alleged fraud. The company owes more than 1,000 Chinese students tuition refunds amounting to $15.44 million.
A chat group's manager told The Global Times: "The company's sale...
