Vocation warned against 'fire sale'

By Simon Evans
Updated January 28 2015 - 10:08pm, first published 5:36pm
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker
Vocation's bottomline loss was expected to be $27 million. This is almost $60 million worse than a profit forecast made by the company in early December. Photo: Nic Walker

The largest shareholder in ailing education firm Vocation is warning against a "fire sale" of assets and says the board squandered an opportunity for a more timely restructuring by not removing chief executive Mark Hutchinson last year.