National Beauty School Is The Latest For-Profit School To Close
Regency Beauty Institute has joined the list of for-profit school closures.
The national cosmetology school closed all 79 of its locations, including one in Tampa.
On its website, Regency cited several reasons for closing.
“In short, the organization does not have the cash to continue to run the business,” the 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.”
Regency had been in business for more than 50 years.
The Carrollwood location had approximately 30 students. Other facilities in Florida were located in Fort Myers, Jacksonville and Orange Park.
The Minnesota-based institute said the closure wasn’t due to any “wrongdoing.”
“The environment is simply not one that allows us to remain open,” their statement reads. “We diligently explored a range of strategic options that would benefit our students, teachers, and staff — and allow us to remain open. Unfortunately, those efforts were not successful.”
Those who were enrolled at Regency can complete “teach out” agreements to receive their degree at the other accredited cosmetology schools that have reached out to Regency.
A list of those schools is set to be released in early October.