Juren tutoring company announces shutdown
Juren Education Group, a private after-school tutoring company founded in 1994, announced on Tuesday the closing of all its businesses amid the country's biggest-ever regulation on the after-school tutoring sector.
The company said in its social media account due to operating difficulties, the firm will not be able to offer teaching services starting this fall, and it is not able to meet refund requirements.
But the company has offered four plans to students to take the rest of the classes, which include transferring lessons to other education companies including Gaosi Education and coding startup Hetao, it said.
Juren was acquired by OneSmart International Education Group Ltd, a New York Stock Exchange-listed education group, in 2018. Data from data analytics firm Tianyancha showed OneSmart holds 14.4 percent of equity in Juren.
