What can any lender do to get money? Forcing bankruptcy is a sure way to never get paid.
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498, thanks for sharing your perspective with us.
OP: Heald is a failing entity, thanks to the mismanagement under CCI. Poor prospects for a return to prosperity due to market conditions, AG unwillingness to release potential buyer from liability and rapidly declining enrollment. The loan issue may just be the final nail in the coffin.
I doubt it. For profit education as a sector is not doing well.
334, it's true that there are several potential buyers still a interested in buying Heald. It's been a long process but I imagine it will be sold within the next couple of months,.
Someone on the Heald page is claiming six potential buyers. I sort of doubt the veracity. The original deadline was January, and that came and went.
I think we'll still be here on April 1st as well, but I'm thinking up some devilish April Fool's Day jokes to play this year, considering how jittery everyone is! Be afraid...be very afraid!
I wouldn't worry too much about the loan due at the end of the month. Wilson & Ord "retiring" may be a sign of impending bankruptcy, or it could just be that there's not going to be much to do, whether we're sold or go under. The end of the month will come and go and, as long as we don't declare bankruptcy, we'll still be here. We don't have any assets to seize, and it would take awhile for our creditors to go after them if we default. They also can't get blood out of a turnip, so if there's any chance we'll be sold, even for a few pennies on the dollar, it's in their best interest to hold off on shutting us down to at least get something.