Corinthian Colleges Inc. on Sunday said that it is ending operations and closing its remaining 28 campuses, affecting about 16,000 students, Dow Jones Daily Bankruptcy Review reported today. The troubled operator of for-profit colleges, which has been winding down its operations, said efforts to sell the campuses or arrange teach-out partnerships with other institutions had failed, "largely as a result of federal and state regulators seeking to impose financial penalties and conditions on buyers and teach-out partners." Corinthian last year struck a deal with the Department of Education to sell off most of its more than 100 campuses and wind down the rest amid concern about its marketing practices, including claims that the company falsified data about student job placement.
