Thanks to a dedicated group of teachers and stakeholders, the financially troubled Art Institute of Las Vegas is finding a way to continue operating. To stay open, the private university — which offers degrees in arts, fashion and culinary fields — is working to separate from indebted parent company Dream Center Education Holdings.
A group of local Art Institute teachers has teamed up with local businessman Richard Rock to create Save Las Vegas LLC, which would own and operate the college independently.
The court-appointed receiver for Dream Center, Mark Dottore, has been working to save the school.
“We have been working diligently since the Art Institute of Las Vegas entered into federal receivership, to secure a path forward for the school,” Dottore said in a written statement. “An agreement was reached, in principle, for the acquisition of the institution by ‘Save the Art Institute of Las Vegas Limited.’ We continue to work with that entity as well as with the court, the U.S. Department of Education, regulators and accreditors to ensure a future for the school.”