(RNN) - Virginia College, one of the country’s largest for-profit colleges, is closing.
The Birmingham-based Education Corporation of America has around 20,000 students enrolled in disciplines like cosmetology, culinary arts, medical and dental assistant programs in 75 campuses across the U.S. The ECA also owns Brightwood College, which is also closing its doors.
The ECA closed a third of its campuses for both chains earlier this year as a part of a court-approved receivership, Inside for Higher Education reports. However, the company fell behind on payments to creditors and rent on buildings.
Tuesday evening, the Accrediting Council for Independent Colleges and Schools suspended the college’s accreditation. Some employees will remain on campuses to help students get their transcripts and other documents in order.
“We are proud of our thousands of graduates who have entered the work force with skills they acquired at our schools along with our faculty and staff who have shown unwavering support for our students. This is not the outcome that we envisioned and is one that we recognize will have a dramatic effect on our students, employees and many partners,” Dianne Worthington, a spokeswoman for the company said in a written statement to Higher Education.