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Bankruptcy Trustee Sells Two CLC Schools

MANASSAS, VA-Lincoln Technology Institute paid $3 million for schools in Las Vegas and Norcross, GA, from Computer Learning Centers Inc., which is in the middle of bankruptcy liquidation.

By Wendy Watkins | Updated on March 12, 2001

MANASSAS, VA- Computer Learning Centers Inc., based here, sold the leases on two schools to Lincoln Technology Institute, based in West Orange, NJ last week. LTI paid $3 million for the leases and equipment, located in Norcross, GA and Las Vegas, NV, after a bankruptcy judge approved the sale on March 7. Computer Learning Centers filed for Chapter 7 protection on Jan. 25.

According to the H. Jason Gold, the Chapter 7 Trustee for the Computer Learning Centers, 23 remaining leases–along with computers and other equipment–must still be sold to pay off the company’s debts. Most are being sold as turnkey operations. The remaining leases are located in a dozen states across the country, says Gold.

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