But it did discuss more drastic cost savings. That means layoffs coming next. Probably start with highly paid, under busy management. Since enrollment has plunged, management has not seemed to be removed, despite having fewer need for them.
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The filing suggested "liquidity problems," which is akin to suggesting bankruptcy.
An 8k would not mention a bankruptcy unless it was filed or about to be filed. In any case you would probably see a Chapter 11 intention in an 8K but that is not applicable in this situation. Yes 188 no FA if they file Chapter 7. Bankruptcy would be a last resort to simply ditch the debt. We are not there yet. That would be an complete abandonment of any possible comeback.
People are so stupid. If we file bankruptcy, we can no longer collect ANY FA funding. None. We can't sell or rebrand either. So the company essentially ends immediately. It will be a very quick demise, as they will run out if money immediately. Why don't people understand that!?!?
Shit's going to start to break and it'll never get fixed. Pretty soon it'll be a pit hole.
I read it. Going to try to sell the real estate they have, too. Fire sale.