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Debt Management

Schools
College Of New Rochelle Announces Date For Final Classes After 115 Years College Of New Rochelle Announces Date For Final Classes After 115 Years
College Of New Rochelle Announces Date For Final Classes After 115 Years The end is (nearly) here. After 115 years, the College of New Rochelle has announced the date it will host its last class after being forced to shutter its doors due to a financial crisis. The last classes will be held at the college on Saturday, Aug. 10, making the end of the institution following a three-year financial crisis. The college recently held its final graduation ceremony. Earlier this year, the college announced that it had entered  into an Agreement of Mutual Cooperation that will “ensure a seamless transition for CNR students to continue their education at Mercy College…

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by Zak Failla
Business
Dollar Tree To Shut Down 390 Family Dollar Stores Dollar Tree To Shut Down 390 Family Dollar Stores
Dollar Tree To Shut Down 390 Family Dollar Stores Dollar Tree is closing at least 390 Family Dollar stores and will rebrand 200 others, the company announced in releasing its fiscal fourth-quarter earnings this week. Dollar Tree CEO Gary Philbin announced the plans on Wednesday, which will include renovating some locations to sell alcohol and $1 Dollar Tree merchandise sections. As many as 400 stores will get expanded refrigeration sections and some Family Dollar discount stores will be rebranded to the Dollar Tree brand. In total, the discount chain lost approximately $2.3 billion by the end of the fourth quarter. “We are further acceler…

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by Zak Failla
Schools
Third School Steps Up To Help Displaced College Students In Westchester Third School Steps Up To Help Displaced College Students In Westchester
Third School Steps Up To Help Displaced College Students In Westchester A third university is stepping up to offer a helping hand to students at the College of New Rochelle, which is expected to shutter its doors at the conclusion of its summer semester. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. Last week, the college announced that after 115 years…

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by Zak Failla
Schools
Mercy, Iona Ready To Take Students From College Of New Rochelle Mercy, Iona Ready To Take Students From College Of New Rochelle
Mercy, Iona Ready To Take Students From College Of New Rochelle With the College of New Rochelle likely to close its doors at the conclusion of its summer semester, area colleges are lining up to offer an assist to students from the 115-year-old institution. Earlier story: Iona College Issues Lifeline To Students Following CNR Closing Announcement Last week, CNR announced that due to a three-year financial crisis, it will likely be forced to shut down as it deals with crippling debt. In response, area colleges are taking measures to ensure that students are able to continue their education in the Hudson Valley. Mercy College began working wi…

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by Zak Failla
Schools
College Of New Rochelle Closure Seen As Likely College Of New Rochelle Closure Seen As Likely
College Of New Rochelle Closure Seen As Likely Amid a near three-year financial crisis, the College of New Rochelle may be shutting its doors for good at the end of the summer semester. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. The investigation ultimately found that CNR hadn’t paid upwards of $20 million in payroll taxes d…

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by Zak Failla