Gold Coast childcare giant to close 40 centres
Gold Coast childcare giant G8 Education is set to close 40 childcare centres.
The Varsity Lakes-headquartered company announced the move at its annual general meeting after the company posted a net loss of $303.3 million for 2025.
The company operates around 400 childcare centres throughout Australia, employing 8800 people to care for 36,000 children a week.
Chief Executive Officer and Managing Director Pejman Okhovat said occupancy at its childcare centres was falling in 2026, with year-to-date attendance 7.9 per cent lower than in 2025.
Mr Okhovat said that the company would suspend “the operation of approximately 40 centres” to counter the problem.
“Our network optimisation framework identifies challenged and underperforming centres, and these have been exacerbated by the current macro conditions,’’ Mr Okhovat said.
“G8 Education’s immediate focus remains supporting families to transition to one of its nearby centres and redeploying team members, where possible.
“G8 Education will then consider longer term options for those centres including lease surrender, divestment or other alternative.”
The company is also looking to reduce costs through purchases and restructuring its support offices.
“While decisions like these are never easy, it is absolutely the right thing to do to achieve the outcomes I have just outlined to you,’’ he said.
Mr Okhovat said G8 Education’s priorities were clear.
“Child safety and paramountcy sit at the core of our culture and governance and underpin every decision we make,’’ he said.
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