Regency Beauty Institute goes broke, closes all campuses

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FORT MYERS, Fla. – After 50 years, a beauty school has run out of cash, leaving students to deal with the abrupt closure of all 79 of its campuses Wednesday.

On the door of the Regency Beauty Institute at 11621 S. Cleveland Ave. a sign reading “Permanently Closed” informed students of times when they should retrieve their personal items. Students have four hours between Thursday and Friday to get their belongings, the sign said. The beauty school’s staff, students and instructors will no longer be welcomed into the building starting Saturday.

Regency Beauty Institute was open for 50 years, according to a statement on the school’s official website. The statement offered an apology for the “abrupt nature” of the announcement, explaining that the school had not been closed for breaking laws or cheating students. Instead, the school struggled to keep its program financed amid a decline in student enrollment and the “negative characterization of for-profit education,” according to it’s official statement.

“How did this happen? In short, the organization does not have the cash to continue to run the business,” the statement read.

Former students will be mailed their final transcripts by the week of Oct. 3, according to Regency Beauty Institute’s website. The school is also working to partner with other cosmetology schools that will accept former Regency Beauty students in a “teach-out” initiative, which will allow students to complete their programs for less money than the cost of typical school transfers, according to the school’s official website.

The school is deferring all questions about financial aid and student loans to students’ loan providers.

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