Everest College may have a potential buyer, ministry says
No information available on who is looking to buy the defunct college
The Ontario Ministry of Training Colleges and Universities has confirmed it's reviewing a purchase proposal for Everest College.
The private career college closed all 14 of its Ontario campuses last month after the ministry pulled its licence, shutting 2,400 students out of classes.
Everest College declared bankruptcy the next day.
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A ministry spokesperson said the sale of Everest College must be negotiated between the potential purchaser and the trustee handling the bankruptcy.
"As with all private career college applications for registration, the superintendent [of private career colleges] and her staff will apply due diligence and will closely examine the proposal and its merits," the spokesperson stated in an email.
"It is important to note that the Ministry of Training, Colleges and Universities does not approve the sale of private career colleges."
The superintendent of private career colleges also has to make sure the buyer meets all of the requirements of the Private Career Colleges Act.
"For example, the superintendent must determine whether the purchaser will operate the private career college in compliance with the act, including operating in a financially responsible manner, with integrity, and whether it is in the public interest to register the purchaser," the ministry spokesperson continued.
"The superintendent determines whether a purchaser should be registered under the Private Career Colleges Act, and the ministry will determine whether the private career college should be approved as a continuing institution for the purposes of OSAP."
No information was available on who is looking to buy the defunct college.
Everest College offered programs such as law enforcement, dental assistants, child care, massage therapy and esthetics at the following 14 locations across the province:
- Ottawa (two locations).
- Hamilton (two locations).
- Toronto (three locations).