BENNINGTON, Vt. (AP) - Southern Vermont College has hired a corporate restructuring specialist to oversee the school’s closure this summer.
The Bennington Banner reports that Charles Goldstein, of Maryland-based 3 Cubed Advisory Services, LLC, will be the head of operations during the closeout period.
School officials also announced Wednesday that SVC President David Evans stepped down and has secured another position.
Officials say SVC now has enough money to cover all final paychecks for employees due in part to ongoing fundraising efforts by local businesses and residents and other contributions.
Some employees had been told in April that final paychecks couldn’t be cut, pending the sale of school real estate assets.
SVC officials have cited declining enrollment and about $6 million in debt as reasons for closing the school.
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Information from: Bennington Banner, http://www.benningtonbanner.com
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