Corinthian Colleges Inc.’s bankruptcy plan was approved by a bankruptcy judge, the Wall Street Journal said.
The plan liquidates the Santa Ana-based company assets and sets aside $4 million for former students pursuing loan forgiveness.
The defunct for-profit college operator began to wind-down operations last summer and sold or closed campuses.
Corinthian and a Canadian subsidiary separately filed for bankruptcy earlier this year.
About half of its 107 locations were bought last fall by Minnesota-based Zenith Education Group.
Zenith in early August subleased space at Corinthian’s former headquarters, taking 105,636 square feet at 5 Hutton Centre.
A spokesperson for Zenith said by email the company doesn’t know how many employees it will retain but that most will be in administrative and support roles.
