CSB School of Broadcasting Closes Doors and Will File for Bankruptcy
The Connecticut School of Broadcasting is shuttering the doors of its 26 locations and planning to file for bankruptcy protection after one its lenders seized its bank accounts.
The school, which opened a location in Needham, Mass., in 2007, said operations had been dramatically impacted by the contracting student loan market recently. But in a news release CSB said the shut down was due to its lender National City/PNC Bank seizing bank accounts held by the school.
CSB closed its locations without warning on Wednesday.
“I am extremely disappointed that, after 44 years of operations, CSB will not be able to fulfill its mission of providing a quality education to students interested in working in the broadcast industry. I am also disappointed that the actions of our lender precipitated this sudden disruption in the lives and careers of our students and employees,” David Banner, president of CSB, said in a statement.