STUDENTS arrived to Compass Business College in Russell St on Wednesday to find its doors closed and a letter in the window.
Giant accounting group Hall Chadwick partners Richard Albarran, Blair Pleash and Shahin Hussain were appointed joint voluntary administrators of a number of entities including Compass Business College last Tuesday.
In the letter by Mr Albarran, students were told the college was suspended until further notice.
In a statement from Hall Chadwick, the voluntary administrators were said to be assessing whether the colleges could continue to trade and if students and staff affected could be transferred.
"The voluntary administrators have been advised that the recent major changes imposed on the Vet Fee-Help sector by the Federal Government have resulted in very significant pressure on the colleges' ability to operate.
"The owners of the colleges have advised administrators' office that they consider they have exhausted all available means to continue operating and, with great reluctance, have been forced to place the colleges into voluntary administration."
Hall Chadwick will provide an update to students and staff as soon as possible.
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