A beauty school with dozens of campuses nationwide and one in the metro-east has shut down for good.
Regency Beauty Institute, a cosmetology school with 79 campuses across the country, announced on its website it would cease all operations Wednesday.
Regency operated a campus at the Crossroads Centre off Lincoln Trail in Fairview Heights. A person who answered the phone there Thursday referred questions to Regency’s CEO, who couldn’t be reached for comment.
“How did this happen? In short, the organization does not have the cash to continue to run the business,” a statement on the Regency website said. “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.”
The institute in its statement stressed that it was not forced to shut down by the government.
“This is not another case of a school being forced to shut down because it was accused of wrongdoing. We held ourselves to high educational and ethical standards. The environment is simply not one that allows us to remain open,” the institute said.
Here’s what’s next for current students who suddenly have no school to go to:
▪ Regency will mail each current student his or her final transcript and send a copy to the cosmetology board in each state where Regency students were enrolled.
▪ Students can finish their programs via “teach-out” agreements at other accredited cosmetology schools. Regency said it is working with the National Accrediting Commission of Career Arts & Sciences to match students with schools to take them in.
▪ Regency students who took out student loans to attend Regency are encouraged to meet with their loan servicer and loan officers at their new school if they choose to enroll somewhere else to discuss what changes, if any, are to be expected.
▪ Students who have personal belongings in the Fairview Heights location can retrieve them from 3 p.m. to 5 p.m. Thursday or from 11 a.m. to 1 p.m. Friday. The location will not be open at any other time.