Corinthian Colleges (COCO) said Monday it plans to sell its Heald schools, a group of 12 campuses.
Corinthian said in U.S. Securities and Exchange Commission filing that it hasn’t yet secured a buyer for Heald but plans to sell the campuses either as a unit or in pieces.
The campuses may be worth between $60 million and $69 million, the Wall Street Journal cited a recent Wells Fargo report as saying.
Corinthian has been told to present a plan to the Education Department to sell most of its 107 campuses and close others.
The shares closed at $0.30 on Monday, close to a record low of $0.26.