Tell me again - what caused the problem?

Interestingly, in view of the numerous statements made by the governors etc over the past 12 months that the 'cause' of Bolitho's problems is in part the credit crunch, Sunny Varkey Founder of GEMS says:

The two businesses that are almost recession-proof during the financial tsunami are healthcare and education, so in terms of investment I think people should look at education and healthcare as good businesses today. I like to be master of what I do. So I'm sticking to education as my main business."