"Private equity funds and related asset managers own water companies, apartment blocks, student accommodation, care homes, children's homes, funeral parlours and more. The titans of this industry have perfected a cradle-to-grave model of investment focused on the places we live, work, grow old, and eventually die, capturing these core services and squeezing them for profit."
"Nurseries backed by private equity have sprouted up across the UK over the last five years, taking over independent businesses and merging them into gigantic chains. They report profits that are as much as seven times greater than the surplus made by non-profit nurseries, spend up to 14% less on staff, and have far higher rates of staff turnover."
"Their zealous search for profit means such nurseries are less likely to open in poorer areas, and can close at a moment's notice, as parents in Hackney recently discovered when their nursery suddenly closed down. This isn't any way to run a vital social service."
Private equity-backed nurseries in the UK are emerging as a significant trend, often resembling independent businesses but operating under large chains. These nurseries report profits significantly higher than non-profit counterparts while spending less on staff and experiencing higher turnover rates. Their profit-driven model leads to fewer openings in poorer areas and the potential for sudden closures, undermining the stability of essential social services. The shift towards private equity in early childhood education raises concerns about the impact on quality and accessibility for families.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]