Childcare chain Shared Beginnings collapses, enters administration

Seven centres remain open as administrators seek buyers, highlighting sector instability

By LineZotpaper

Published21 October 2026

Read Time3 min

Sources2 outlets

Shared Beginnings, a childcare chain owned by private lender Finexia Financial Group, has entered administration, becoming the latest early education provider to fail amid a wave of closures across Australia. All seven centres in Queensland, Victoria and the ACT remain open under administrator control while a buyer is sought.

Childcare chain Shared Beginnings has been placed into administration, with its owner, private lender Finexia Financial Group, saying the decision came after exhausting all other options. The company operates centres in Sinnamon Park and Kenmore (Queensland), Reservoir, Mont Albert and Beaumaris (Victoria), and Bonython and Conder (the ACT).

Finexia managing director Neil Sheather said in a letter to staff that the centres had been operating "at a loss". He assured families in a separate letter that all centres remained open and care would continue as normal. Administrators Bill Karageozis and Nick Keramos of DVT McLeods have been appointed to find suitable buyers.

Shared Beginnings was taken on by Finexia after its previous owner, Genius Education, defaulted on substantial loans in the 2025 financial year. Genius Education collapsed in March 2025 under massive debt, leaving more than 30 centres across the country. Finexia said it had since provided "significant financial and operational support" to the seven centres.

The collapse highlights risks in the private credit sector, which has typically faced lighter regulation than the banking industry. The Australian Securities and Investments Commission (ASIC) has recently said it was closely scrutinising private lending and was concerned "the first significant cracks" were appearing.

Earlier this month, the Australian Securities Exchange suspended Finexia's securities after the company failed to file multiple periodic reports, including its half-yearly report due at the end of February. Finexia reported a $5.2 million net loss for the 2025 financial year, which it described as "one of the most challenging in Finexia's history".

The childcare sector more broadly is experiencing increased closures. A September report by the Early Learning and Care Council Australia found 152 long daycare services had closed since 2024, with a further 276 services identified as at risk of closing in the next 12 months. Former national children's commissioner Anne Hollonds said the sector was undergoing a significant adjustment driven by increased regulatory costs and several prominent crises.

For-profit centres dominate the long daycare sector, making up 74 per cent of places according to a recent Mitchell Institute report. The report found substantial instability or "churn" was driven by for-profit providers: 40 per cent of for-profit centres had changed approved provider since 2013, compared to 11 per cent of all other centres.

Analysis

Why This Matters

Families using Shared Beginnings centres face uncertainty, though administrators say care continues for now.
The collapse underscores risks in the lightly regulated private credit sector, with ASIC increasing scrutiny.
A broader wave of childcare closures and instability affects access and quality for Australian families.

Background

The childcare sector has seen rapid growth in for-profit providers, who now account for nearly three-quarters of long daycare places. This growth has been accompanied by high rates of provider churn, with about a third of long daycare services changing approved provider since 2013. The failure of Genius Education in 2025, which had borrowed heavily from Finexia, led to Finexia taking ownership of the centres and now to the administration of the rebranded Shared Beginnings.

Key Perspectives

Families and staff: Parents have been assured that centres remain open and care continues, but the long-term future of each centre depends on finding buyers. Staff entitlements have been promised by Finexia. Finexia Financial Group: The lender-turned-operator says it exhausted all options before administration and is committed to supporting the business and honouring entitlements. The company is also dealing with its own financial and reporting troubles. Childcare sector experts: Anne Hollonds and the Mitchell Institute point to for-profit dominance as a source of instability. They argue for a more balanced mix of non-profit and for-profit providers to prioritise children's safety and well-being.

What to Watch

Whether administrators DVT McLeods find buyers for the seven centres, and what terms they secure.
ASIC's ongoing scrutiny of private lending and any regulatory changes that may follow.
The number of further childcare service closures, especially the 276 services identified as at risk in the next 12 months.

Sources

Childcare chain collapses amid wave of closures · Latest business news
Childcare chain collapses amid wave of closures · Just In

Checked

12 claims in this story checked against 1 source: 10 supported.

Show each claim

SupportedShared Beginnings has collapsed and entered administration.Latest business news: “Childcare chain Shared Beginnings has hit financial strife, becoming the latest early education provider to run into trouble amid a wave of closures in the sector. The childcare service, owned by private lender Finexia Financial Group, operates centres in Queensland, Victoria and the ACT. Shared Beginnings entered administration on Monday.”
SupportedAll seven centres remain open under administrator control while buyers are sought.Latest business news: “All Shared Beginnings centres remain open under the control of administrators. [...] Bill Karageozis and Nick Keramos of DVT McLeods have been appointed administrators to find suitable buyers.”
SupportedFinexia said the decision followed exhaustion of all other options.Latest business news: “The firm said the decision came after exhausting all other options.”
SupportedFinexia managing director Neil Sheather told staff the centres had been operating “at a loss”.Latest business news: “Finexia wrote to staff, informing them the centres had been operating "at a loss".”
SupportedFinexia said it had provided “significant financial and operational support” to the seven centres.Latest business news: “Finexia said it had since "provided significant financial and operational support, including rebranding, marketing, staffing support and substantial funding to cover working capital shortfalls".”
SupportedAdministrators Bill Karageozis and Nick Keramos of DVT McLeods were appointed to find suitable buyers.Latest business news: “Bill Karageozis and Nick Keramos of DVT McLeods have been appointed administrators to find suitable buyers.”
Partly supportedGenius Education collapsed in March 2025 under massive debt.Latest business news: “The seven Shared Beginnings centres arose from the ashes of Genius Early Learning, which operated more than 30 early childhood centres across the country and collapsed under massive debt in March 2025.”
SupportedASIC said it was closely scrutinising private lending and was concerned that “the first significant cracks” were appearing.Latest business news: “The Australian Securities and Investments Commission (ASIC) has recently said it was closely scrutinising private lending , which has typically been a much more lightly regulated sector than the banking industry, and was concerned "the first significant cracks" were appearing.”
Reports differThe ASX suspended Finexia’s securities earlier this month after it failed to file reports, including its half-yearly report.Latest business news: “The stock exchange suspended Finexia's securities on March 2 after it failed to file multiple periodic reports, including its half-yearly report which was due at the end of February.”
SupportedA September report found 152 long daycare services had closed since 2024 and a further 276 services were at risk of closing in the next 12 months.Latest business news: “The report said 152 long daycare services had closed since 2024, with a further 276 services (both long day care and preschool/kindergarten) identified as at risk of closing in the next 12 months.”
SupportedFor-profit centres make up 74 per cent of long daycare places.Latest business news: “Most of the growth in recent years has been in private for-profit providers, with a recent report from the Mitchell Institute finding they made up 74 per cent of long-daycare places.”
SupportedThe Mitchell Institute report found 40 per cent of for-profit centres had changed approved provider, compared with 11 per cent of all other centres.Latest business news: “The rate is higher in for-profit centres where 40 per cent have changed provider, compared to 11 per cent of all other centres.”