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University of the Arts trustees issue first statement on Philadelphia school closing June 7
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University of the Arts trustees issue first statement on Philadelphia school closing June 7

Two days after news broke that the University of the Arts would close on June 7, university administrators issued their first public statement. He offered no concrete explanation for the abrupt move, which came after the school had already admitted a new freshman class to begin this fall, but described it as the result of an unspecified and “unforeseen” financial crisis.

“Like you, we are struggling to make sense of the present moment,” said the statement, signed by board chair Judson Aaron and university president Kerry Walk.

They said the school’s finances had been in trouble during years of declining enrollment; Last year, the Center City institution served 1,149 students, 44% fewer than a decade earlier.

“With a cash position that has steadily weakened, we were unable to cover significant and unforeseen expenses,” the statement said, without specifying the nature of those expenses. “The situation came to light very suddenly. Despite acting quickly, we were unable to close the necessary gaps.”

” READ MORE: ‘A jewel in the crown’: Questions, anger and a threatened lawsuit following the University of the Arts’ imminent closure announcement

The statement promised public meetings on Monday and apologized for how the news was delivered: The Middle States Commission on Higher Education withdrew the school’s accreditation and released a statement before the University of the Arts did so.

The statement also emphasized a commitment to connecting students with transfer pathways, including at Temple University, Drexel University and Moore College of Art and Design.

This is a developing story and will be updated.

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