Corinthian Colleges (COCO) To Sell Heald Schools, A Group Of 12 Campuses

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.

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Jason Tolbert is a stock analyst with The Downtown Leader. If you have a great story idea for Jason Tolbert, you can write at [Jason.Tolbert@downtownleader.com ].

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