Teaching-out a campus takes cash and is expensive. Where is the cash going to come from? The rent must be paid.
7 replies (most recent on top)
Also CCi already announced that the $35M is simply not enough.
That was a $35M draw down on the 21 days. The "Forever 21" day delay stays in place. In other words, the $35M is just enough to get them past payroll this week. Many other bills need to be paid, especially those $350M creditors, and ED is one of them.
I just saw an article. DE gave CC more $$, but only for payroll and daily expenses. That's where it will likely come from. Don't expect a teach out to
Take 10 months. They will quietly close by moving students online or to other campuses.
Anonymous18478 - Outstanding. I could not agree more !!!
So, that leaves the remaining 63 of Everest to be closed and liquidated!
The pretty female employees can always pick up some extra money on the side
Well, maybe CCI can do some trading for rent and other supplies. Some dumb company may want their employees trained........classes for supplies.