Regency Beauty Institute stuns students with nationwide closure

MEHLVILLE, MO (KTVI) – In early September, ITT Technical Institute closed its doors after losing federal loans. And without notice, another for-profit school has shuttered.

The Regency Beauty Institute is closing all of its 79 locations nationwide. The cosmetology school has locations in Mehlville, St. Peters, and Fairview Heights, Illinois.

The company’s website has been replaced with a statement explaining that's it's closing after 50 years because it didn't have the money to stay open.

“There are multiple intertwined reasons: declining numbers of cosmetology students nationwide, a negative characterization of for-profit education by regulators and politicians that continues to worsen and, in light of these factors, an inability to obtain continued financing.”

Since the school closed without notice, many students were locked out with their hair and makeup equipment still inside.

On Thursday, the schools opened for a couple of hours, allowing the students to go gather their belongings. The three local schools will be open again Friday from 11 a.m. to 1 pm for those who couldn't make it out already.

Regency said it will mail students their transcripts for possible transfers.