Today’s news / VUC Syd faces bankruptcy after scandals

VUC Syd faces bankruptcy after scandals

Education institution VUC Syd has declared bankruptcy due to longstanding financial issues, escalated by scandals involving mismanagement of public funds. The Board filed for bankruptcy as it could no longer sustain operations or debts. Subsequently, all educational activities have ceased. The Ministry has now tasked International Business College (IBC) with continuing adult education and ‘hf’ courses in Southern Jutland. VUC Syd had struggled with annual deficits, growing debts, and a decreasing student count. Significant debt from construction projects during 2011-2017 and a drop in activities with no signs of recovery contributed to the downfall. After violations of laws were discovered in 2017, the board was dismissed in 2018. Despite past allegations of economic crimes against directors, no charges were pressed. Currently, about 120 staff and 2800 citizens are affected annually.