Closed schools are taught out with an approved teach out plan. For sale schools are advertised for sale. In the time being, what happens if students drop and student population takes a massive nose dive? Does this speed up closures as long as DOE approves. According to K-8 they are reviewing the financials weekly & will review the Operating Agreement at least at 3 months. Will RVPOs put the pressure on for starts and drops? Will more be expected of those remaining? Will our benefits be further affected? When will lay offs start for those at the top?
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Anonymous18648- Not a problem for CCi. Forever is not that far away.
If they file for bankrupt they lose all ability to accept federal financial aid - forever. Bankruptcy is likely not an option until after they close.
Yes, student retention will nosedive in teach out schools. And I would expect them
To move students online or to other campuses in the end.
Think about the already poor retention rate. Now add a closing school with a skeleton crew. How many students do you think will be left?!?
I was in a teach out situation. In the end, out of 30 students, I had 4 left. The only employees left were me and a financial aid dude and the cleaning people. They won't keep campuses open for so few students per class. And no way will they teach classes with less than 10 students.
More school closures and layoffs and eventual bankruptcy...?
A 180-day extension may be granted if a reverse split is planned.
COCO to be delisted from NASDAQ within 180 days for closing less than $1.00
Next.. we wait.
Note that CCi suggested that the company may not have sufficient liquidity even with this agreement. In other words, bankruptcy remains very likely.