OTHER NEWS - June 29, 1994
From Times Staff and Wire Reports
National Education Corp. to Sell Unit: NEC said it is selling its troubled National Educational Centers division to an unidentified buyer, laying off about 40 headquarters employees and recording a $40-million loss on the transaction. The company, based in Irvine, also said it will stop admitting new students at six locations nationwide that eventually will be closed. It plans to sell 27 remaining post-secondary school training centers to a buyer it did not identify. It said the deal could be completed by late summer.
