Dream Center closes Art Institutes of Pittsburgh and Seattle, Argosy campuses – Education Dive

Dive Brief:

• The Art Institutes of Seattle and Pittsburgh closed Friday with little warning to students and faculty as their parent organization, Dream Center Education Holdings (DCEH), went into a financial tailspin. Mark Dottore, the court-appointed receiver overseeing DCEH’s assets, said in court papers Sunday that he has a deal in place for AI Las Vegas that is pending court approval and faces landlord opposition.
• Multiple campuses of DCEH’s Argosy University closed last week, too — including in Atlanta, Chicago, Denver and Phoenix — according to media reports.
• Dottore told staff at AI Pittsburgh that the campus had to close because a possible acquisition deal for the school fell through, according to an email sent Friday that was obtained by Education Dive. Dottore added that he was working with regulators to provide transfer options for students. In an email to AI Seattle staff, Dottore said the closure resulted from Argosy’s recent loss of Title IV funding.

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