EDMC is the parent company of the Art Institutes. More than 40% of its stock is owned by Goldman Sachs. EDMC is in grave financial trouble: it holds more than a billion dollars in debt and has a junk bond rating. It's also under investigation by several government agencies.
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Art Institutes are the subsidiary of EDMC. If EDMC goes out of business, they have to dramatically reduce their labor costs and sell their assets just to survive.
how's this relevant?