Now-closed Globe University files for Chapter 11 bankruptcy

The now-closed for-profit Globe University has filed for Chapter 11 bankruptcy protection. 

In the court filing, Globe and its affiliated Minnesota School of Business said it owes millions of dollars in connection with fraud actions taken against the school by the State of Minnesota. 

Globe has been ordered to pay back students millions of dollars in high interest loans. 

The state attorney general sued the schools back in 2014 and the Minnesota Office of Higher Education revoked their licenses in 2016.