6 years, 9 months ago by Scott Hardy
Sale planned; classes at Quincy, other centers not affected
The parent company of Vatterott College has filed for receivership, ahead of a planned sale.
Vatterott Educational Centers, Incorporated based in suburban St. Louis announced the move late Thursday, saying that it filed earlier that day for receivership in St. Louis County Circuit court. In a statement, the school says it expects operations to continue without interruption during the receivership, and all campuses will continue to offer their normal schedules, including the one in Quincy. Vatterott President Rene Crosswhite is quoted in the statement saying “The receivership will ultimately allow us to improve our financial position while we continue to provide our students a high quality education across a full range of course offerings.” Vatterott says it's in discussions with several potential buyers.
It also says there will be no changes to student status, employment status, or employee benefits during the receivership. Its' management will also stay in place.
