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Tuesday, May 24, 2022

Corinthian Unit Might Have Buyer

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Santa Ana-based Corinthian Colleges Inc. has a buyer interested in its Canadian schools, according to a newspaper in Ontario, Can.

The Barrie Examiner quotes Zak Paget, a spokesman for the Ministry of Training, Colleges and Universities, confirming the agency “is reviewing the proposal for a potential purchase,” it said in a story Thursday evening.

“The superintendent and her staff will apply due diligence and will closely examine the proposal and its merits,” the newspaper reported Paget said.

Canadian regulators closed 14 locations of Everest Colleges Canada Inc. in February, and the unit filed for bankruptcy protection.

Spokespersons for the company and for bankruptcy trustee Duff & Phelps Canada Restructuring Inc. could not comment on the possible sale, the paper said.

About 2,400 students and 450 employees of the Corinthian unit were affected by the closure and bankruptcy.

Canadian officials said they would commit $3 million and work with students to get them refunds and help them transfer to other schools.

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