Placing the blame on overzealous government regulations, ITT Educational Services Inc. became the latest for-profit educator to shutter its operations after filing a Chapter 7 petition in Indianapolis on Sept. 16.
Carmel, Indiana-based ITT, which owns Indiana’s ITT Technical Institute and New Hampshire’s Daniel Webster College, plans to liquidate its assets in bankruptcy court. Faegre Baker Daniels restructuring partner Jay Jaffe and associates Kayla Britton and Dustin DeNeal are advising ITT in its Chapter 7 case. The debtor listed assets and liabilities of between $100 million to $500 million in its filing.
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