MANILA -- The Philippine School of Business Administration (PSBA) will close down its campus in Quezon City in October after suffering "serious business losses."
In a notice of closure, the PSBA said operations of the Quezon City campus will be terminated "due to serious business losses that have been sustained for the past eight years, including the recently concluded fiscal year ending on 31 May 2013."
The PSBA-QC is located at 1029 Aurora Boulevard in Barangay Loyola Heights.
The notice, which was signed by chairman Juan Lim and president Jose Peralta on September 20, stated that the Board of Directors and stockholders who own and represent at least 98.99 percent of the Quezon City campus unanimously approved the resolution to close the school and all its educational programs effective on October 18, the end of classes for the first semester of Academic Year 2013-2014.
This means PSBA-QC will no longer be accepting students for enrollment for the second semester in November.
The school said students from PSBA-QC can be accepted and accommodated at PSBA-Manila, which is located at 826 R. Papa Street, Sampaloc, Manila, "subject to the usual admission requirements."
Students may submit their written requests for transfer to the Registrar's Office of the Manila campus starting on October 28, it added.
Meanwhile, the termination of the employment of PSBA-QC's academic personnel will be effective on November 8 while for the non-academic personnel, termination will be effective on November 29.