Displaying items by tag: Closing

UPDATE 2:35 PM: The U.S. Secretary of Education's blog post is reprinted below.

-------

An embattled private career college is closing all locations, including one in the Akron area.

The parent company of ITT Tech earlier announced that no new students would be enrolled.

ITT blames federal sanctions that would have cost it 40% of federal student aid, and the potential loss of accreditation.

The University of Akron declined to enter a deal that it was negotiating with ITT near the end of former president Scott Scarborough's tenure.

In addition to the Fairlawn location, ITT also had campuses in Strongsville, Warrensville Heights and Youngstown.

Another private career college, Brown Mackie, will close its Akron location at the end of October.

-----

(ITT Tech, news release) Today, ITT Educational Services, Inc. released the following statement:

"It is with profound regret that we must report that ITT Educational Services, Inc. will discontinue academic operations at all of its ITT Technical Institutes permanently after approximately 50 years of continuous service. With what we believe is a complete disregard by the U.S. Department of Education for due process to the company, hundreds of thousands of current students and alumni and more than 8,000 employees will be negatively affected.

The actions of and sanctions from the U.S. Department of Education have forced us to cease operations of the ITT Technical Institutes, and we will not be offering our September quarter. We reached this decision only after having exhausted the exploration of alternatives, including transfer of the schools to a non-profit or public institution.

Effective today, the company has eliminated the positions of the overwhelming majority of our more than 8,000 employees. Our focus and priority with our remaining staff is on helping the tens of thousands of unexpectedly displaced students with their records and future educational options.

This action of our federal regulator to increase our surety requirement to 40 percent of our Title IV federal funding and place our schools under "Heightened Cash Monitoring Level 2," forced us to conclude that we can no longer continue to operate our ITT Tech campuses and provide our students with the quality education they expect and deserve.

For more than half a century, ITT Tech has helped hundreds of thousands of non-traditional and underserved students improve their lives through career-focused technical education. Thousands of employers have relied on our institutions for skilled workers in high-demand fields. We have been a mainstay in more than 130 communities that we served nationwide, as well as an engine of economic activity and a positive innovator in the higher-education sector.

This federal action will also disrupt the lives of thousands of hardworking ITT Tech employees and their families. More than 8,000 ITT Tech employees are now without a job – employees who exhibited the utmost dedication in serving our students.

We have always carefully managed expenses to align with our enrollments. We had no intention prior to the receipt of the most recent sanctions of closing down despite the challenging regulatory environment that now threatens all proprietary higher education. We have also always worked tirelessly to ensure compliance with all applicable laws and regulations, and to uphold our ethic of continuous improvement. When we have received inquiries from regulators, we have always been responsive and cooperative. Despite our ongoing service to this nation's employers, local communities and underserved students, these federal actions will result in the closure of the ITT Technical Institutes without any opportunity to pursue our right to due process.

These unwarranted actions, taken without proving a single allegation, are a "lawless execution," as noted by a recent editorial in The Wall Street Journal. We were not provided with a hearing or an appeal. Alternatives that we strongly believe would have better served students, employees, and taxpayers were rejected. The damage done to our students and employees, as well as to our shareholders and the American taxpayers, is irrevocable.

We believe the government's action was inappropriate and unconstitutional, however, with the ITT Technical Institutes ceasing operations, it will now likely rest on other parties to understand these reprehensible actions and to take action to attempt to prevent this from happening again."

SOURCE ITT Educational Services, Inc.

(Department of Education, blog post by Secretary of Education John B. King, Jr.) Dear ITT student,

Today, ITT Educational Services, Inc. (ITT) announced that it is closing all of its ITT Technical Institute campuses. For most of the world, that news will be covered as a business story or a political one, but I know that for you it is deeply personal. You are probably wondering what this means for your future; how it is going to affect your finances and your ability to continue your education.

In recent years, ITT has increasingly been the subject of numerous state and federal investigations. In August, ITT's accreditor, the Accrediting Council for Independent Colleges and Schools (ACICS) determined that ITT "is not in compliance, and is unlikely to become in compliance with [ACICS] Accreditation Criteria." This came amid increasingly heightened financial oversight measures put in place by the Department over the past two years due to significant concerns about ITT's administrative capacity, organizational integrity, financial viability, and ability to serve students.

The school's decisions have put its students and millions of dollars in taxpayer-funded federal student aid at risk. Last week, the Department of Education took oversight actions to prevent ITT from continuing to add to that risk. When we made that decision, we did not take it lightly. One possible outcome of oversight actions is that a school may choose to close rather than take corrective actions, which can cause disruption and disappointment for current students. Ultimately, we made a difficult choice to pursue additional oversight in order to protect you, other students, and taxpayers from potentially worse educational and financial damage in the future if ITT was allowed to continue operating without increased oversight and assurances to better serve students.

We are committed to helping you as you consider next steps. Most immediately, you have two basic options to choose between:

If you are currently or were recently enrolled at ITT, you may be eligible to have your federal student loans for your program at ITT discharged. Your federal loan debt will be wiped away and you will have the option of restarting your education somewhere new. We will post and update information about how to receive a discharge at our ITT announcements page.
If you wish to continue and complete your program at a different school – especially if you are close to graduating – you may be able to transfer your credits. It is important to note that transferring your credits may limit your ability to have your federal loans discharged. Closed school discharge may be an option if you enroll in a different program that does not accept your ITT credits.
Both of these options have pros and cons, depending on your unique circumstances, so it is important that you consider your specific situation carefully. You can find some information to start with at our ITT announcements page. The Department's Office of Federal Student Aid is ready to support you with resources and information, including through this website, and will be updating you with more information in the coming days and weeks.

Whatever you choose to do, do not give up on your education. Higher education remains the clearest path to economic opportunity and security. Restarting or continuing your education at a high-quality, reputable institution may feel like a setback today, but odds are it will pay off in the long run. There are people and tools – like our College Scorecard – out there to help you pick a program that gives you a real shot at success.

I am proud of your hard work and dedication, and we will do all we can to continue to provide information to you on your options.

Sincerely,

John B. King Jr., U.S. Secretary of Education

The Akron Zoo will be closing its Journey to the Reef exhibit this November.

The indoor exhibit hall is designed to change and offer a new exhibit every 3-4 years, according to officials at the Akron Zoo.

Journey to the Reef opened in May of 2012 and has hosted over 1.4 million people. The last day for the exhibit will be November 19th.

No replacement has been named, but it is expected to open in the spring of 2017.

---------------------

(Akron Zoo - Press Release) The Akron Zoo's popular exhibit, Journey to the Reef, will be closing November 19, 2016. The reef exhibit is located in an indoor exhibit hall in Komodo Kingdom which was designed to change exhibits every 3-4 years. Journey to the Reef first opened on May 26, 2012 and hosted over 1.4 million people. Its replacement exhibit has yet to be named, but will open in the spring of 2017.

To commemorate the closing of Journey to the Reef the zoo will host a Bon Voyage party on November 19. Journey to the Reef features 18 aquariums and over 40 aquatic species that live on or near the reef, and live coral. This area also includes several interactive education areas for kids, like our stingray touch tank, to learn about ocean life and conservation.

Many of the animals that are a part of Journey to the Reef had never been exhibited at the zoo before, such as: octopus, eels, seahorses, venomous lionfish and clownfish. The exhibit also included a couple of species of jellyfish, starfish, schooling fish, crabs and more.

Although the new exhibit has yet to be announced it will include some aquatic and terrestrial animals along with carnivorous plants. The new exhibit will be announced
early in 2017. The Akron Zoo is open 361 days a year. Zoo hours are 10 a.m. – 5 p.m. and admission is $12 for adults, $10 for senior citizens, $9 for children (ages 2-14). Children under two are free and parking is $3.00. For more information visit www.akronzoo.org or call (330) 375-2550.

Founded in 1953, the Akron Zoo is a non-profit, world conservation Zoo with over 700 animals from around the world. Located just west of Downtown Akron, the Zoo
strives to provide a dynamic, financially responsible, guest centered animal experience that is energized by innovation and fun. The Akron Zoo is accredited by the Association of Zoos and Aquariums (AZA). With its more than 200 accredited members, AZA is a leader in global wildlife conservation, and your link to helping animals in their native habitats.

After Macy's announced that it would be closing dozens of stores, including the one at Chapel Hill Mall, three more stores at the shopping mall are saying goodbye.

The Beacon Journal reports Old Navy, Express and Aeropostale will be closing its doors. A sign at the Old Navy store says it will close on Jan. 26. An employee told the newspaper that Express and Aeropostale will be closing, but did not say when.

Earlier this week, Macy's announces it will close 36 stores due to "cost-efficiency measures." Clearance sales at the stores that are scheduled to close will start on Monday, and last "eight to twelve weeks".

On the web: www.ohio.com

Previous Coverage: 

Macy's Closing At Chapel Hill Mall

The shelves at Akron's West Point Market, once stocked with gourmet foods and specialty items, now sit empty.

"It's a bit of a shock." said West Point Market CEO Rick Vernon. "As long as I've been here they've always been full. Now they're empty."

Whole Foods will soon be replacing West Point Market and a developer is expected to build two other retail buildings on the property. That marks the end of an era for the West Market Street location.

West Point is planning to close its doors on New Year's Eve, but that could change depending on when they sell out.

"We started the discount sale on Saturday and it was so overwhelming."

Vernon said there are plans in the works to open a temporary store in Montrose in February until they find a new and permanent location in the area. The temporary location could open as early as the end of February.

The company will keep customers updated on the final hours at the West Market location on its Facebook page.