Regency Beauty Institute announced today, September 29, 2016, that effective Wednesday they will permanently all 79 campuses nationwide.

Regency posted on their website that the do "not have the cash to continue to run the business." Saying that the reasons are due to declining numbers of cosmetology students nationwide, a negative characterization of for-profit education, and an inability to obtain financing and funding.

"This is not another case of a school being forced to shut down because it was accused of wrongdoing. We held ourselves to high education and ethical standards. The environment is simply not one that allows us to remain open. We diligently explored a range of strategic options that would benefit our students, teacher, and staff -- and allow us to remain open. Unfortunately, those efforts were not successful," a statement from their website said.

Students will be able to gather their personal items on Thursday, September 29 from 3 p.m. - 5 p.m. and on Friday, September 30 from 11 a.m. - 1 p.m.

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