When you ask "why are they closing so many school campuses instead of selling them?", I think there are several answers. First, they don't own the campus locations...they lease them....so there's no real estate to sell. This leaves selling the location as an ongoing business and that would appear problematic since the locations have been economic losers.
I am long. I agree, the news seems pretty good. They promised to keep the schools open until current students graduated. I expect this to be near $7 by next spring. We need 1 more quarterly report. IMHO