Sale of Music School Falls Through; Closure Expected
An agreement to sell The Grove School of Music in Van Nuys has fallen through and the school probably will close in September unless they can raise at least $300,000, school administrators said Monday.
The school has graduated many professional musicians who are active in the entertainment community, and the faculty includes Academy Award-winning composers Henry Mancini and Bill Conti. Two weeks ago, executives thought they had cured its financial problems when Full Sail Center for the Recording Arts, a Florida-based arts school, had apparently agreed to purchase it. Full Sail administrators changed their minds, and now Grove must find another investor.
The school this year has lost $1 million and more than 25% of its student body--dropping from 470 to 350 students.