"Declining student enrollment and financial losses at our Career College campuses, combined with the ‘Gainful Employment’ regulations issued last year factored into our decision,” said Career Education Corp. interim CEO Ron McCray in a statement. “In making this decision, we have chosen a path of gradual discontinuation, or teach-outs, rather than closing schools immediately. We are committed to both the academic and personal success of the students enrolled in our programs. Teach-outs minimize potential negative impacts on faculty, students and staff members.”
According to its website, Career Education currently operates Sanford-Brown campuses in cities including Atlanta, Brooklyn, Chicago, Dallas, Fort Lauderdale, Houston, Jacksonville, Las Vegas, New York City, Orlando, Seattle, San Antonio and Tampa, as well as online.
The Sanford-Brown closures are expected to impact about 8,600 students, according to Crain's Chicago Business.
The company also announced that it is attempting to sell Briarcliffe College, Brooks Institute and Missouri College. It had previously announced that its interest in selling its Le Cordon Bleu Colleges of Culinary Arts schools as well.