Australian Careers Network burned through $10m in the December quarter

By Sarah Danckert
Updated February 8 2016 - 6:18pm, first published 5:25pm
The bricks and mortar Phoenix Institute that will be shut down.
The bricks and mortar Phoenix Institute that will be shut down.
Australian Careers Network chief executive Ivan Brown would not say if the company has been in talks with insolvency firms. Photo: Arsineh Houspian
Australian Careers Network chief executive Ivan Brown would not say if the company has been in talks with insolvency firms. Photo: Arsineh Houspian

Embattled vocational education provider Australian Careers Network burned through more than $10 million of its cash reserves in the three months to December, to keep the business afloat after shutting its largest college, Phoenix Institute.

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