“DCEH’s financial woes have resulted in it defaulting on its financial commitments across the country, including sums due a number of landlords, who have started eviction proceedings. The impending cascade of creditor litigation will result in the loss of the schools’ accreditations and their ability to receive Title IV funding. Since DCEH and its schools (collectively the “Universities”) rely almost exclusively on tuition payments, and since a majority of those payments come through federal student loans, the loss of the Title IV funding will force the Universities to close without delay. Closing the schools immediately will destroy the enterprise value, leaving little money for DMS and DCEH’s other creditors.”
Update is at end of post:https://www.republicreport.org/2019/brent-richardson-resigns-as-dceh-ceo/