June 19 Corinthian Colleges Inc, a U.S.
for-profit education provider, said it may not be able to
continue as a going concern after the Education Department
delayed some reimbursements.
The Education Department has increased the period in which
Corinthian is refunded some disbursements to 21 days from 24-72
hours, Corinthian said in a regulatory filing. (1.usa.gov/1qvpC6z)
The company's cash flows will not be sufficient to meet its
obligations as they become due if it is unable to find
alternative financing, it said.
Corinthian shares were halted from trading on Thursday
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by