(KTVI) – Wednesday Regency Beauty Institute shut down all 79 of its facilities in the U.S. The closure is sure to catch students, instructors and other employees by surprise, as there was no warning of the closures.
The 50 year old company says it simply did not have the cash to remain in business. The company offered several reasons of the shut down: 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.
Students should expect in the mail their final transcript(s) in the coming weeks. Regency plans on providing student’s transcripts to cosmetology boards or state higher education authority and to retain a records management company to administer transcripts request in the future.
Regency will also be working with its accreditor, the National Accrediting Commission of Cosmetology Arts and Science and state boards to secure agreements with other accredited schools and programs for students to finish their programs of study.
Students will be allowed back on campuses on the following dates to retrieve person items:
Thursday, September 29, 2016
3 pm - 5 pm
Friday, September 30, 2016
11 am - 1 pm