Mr Finlay said the decision to close services was a reflection of the challenging times that Barnardos and other voluntary organisations were operating in.
That bid, which involved a company called Freeman Oliver and the charity Barnardos, was rejected in favour of UEL's because the university was deemed more financially robust.
The charity said all families and children who use its services were informed of the planned closure months in advance, as were Barnardos 400 staff and volunteers.
"The decision to close the organisation for a week and save on salary in order to protect services was accepted voluntarily by the people who work in Barnardos, who are totally committed to the children and families we work with, " he added.