“New federal regulations make it difficult to project the future for career schools that have higher operating costs, such as culinary schools that require expensive commercial kitchens and ongoing food costs,” said Todd Nelson, president and CEO of Career Education. “Despite our best efforts to find a new caretaker for these well-renowned culinary colleges, we could not reach an agreement that we believe was in the best interests of both our students and our stockholders.”
The company plans to refocus its resources on its online university. Career Education Corporation also operates American InterContinental University and Colorado Technical University. More than 90 percent of those students attend school online.