CSB School of Broadcasting To Cease Operations

QUINCY, Mass.--(BUSINESS WIRE)--CSB School of Broadcasting announced late yesterday that it would be closing all 26 of its campuses immediately as it plans to cease operations and to file for bankruptcy protection. While CSB’s operations have been dramatically impacted by recent changes in the private student loan market, the decisions taken yesterday are a result of recent actions taken by its lender, National City / PNC Bank, including the seizing of bank accounts held by CSB. CSB, which had been working to come up with alternatives to continue to fund the business, was surprised by the recent actions of its lender. Without access to cash, CSB has been forced to shut down operations. CSB will now promptly seek protection under applicable insolvency laws.

David Banner, President of CSB, commented that “I am extremely disappointed that, after 44 years of operations, CSB will not be able to fulfill its mission of providing a quality education to students interested in working in the broadcast industry. I am also disappointed that the actions of our lender precipitated this sudden disruption in the lives and careers of our students and employees.”

Inquiries regarding CSB and the insolvency proceeding may be directed to David Banner at CSBinformation@gmail.com or (646) 248-2027.

CSB School of Broadcasting
David Banner, 646-248-2027
CSBinformation@gmail.com