Art Institute of Pittsburgh closes after attempt to sell it falls through
The hopes of keeping open the Art Institute of Pittsburgh were dashed Friday when the private school closed because its bankrupt owner had run out of money and a deal to sell the school fell through.
The institute sent letters to students Friday announcing the closing, according to Tribune-Review news partner WPXI.
About 230 students attended classes at the Art Institute and another 1,924 were enrolled in online courses at the 98-year-old school.
Mark Dottore, the federal receiver controlling the finances for bankrupt school owner Dream Center Education Holdings, said last month there were buyers interested in the Pittsburgh location on Penn Avenue in the Strip District.
But students were informed Friday that the deal had fallen through.
In court papers filed on Thursday, Dottore said he had an offer “in final form awaiting execution” for the Pittsburgh Art Institute.
Dream Center Education Holdings, went into receivership in January and notified the state Department of Education it would close the Art Institute by March 31.
Dottore could not immediately be reached for comment.
Joe Napsha is a TribLive reporter covering Irwin, North Huntingdon and the Norwin School District. He also writes about business issues. He grew up on Neville Island and has worked at the Trib since the early 1980s. He can be reached at jnapsha@triblive.com.
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