MANILA, Philippines—The Quezon city campus of the Philippine School of Business Administration (PSBA) will be closed down effective October 18 due to “serious business losses.”
PSBA chairman Juan D. Lim and president Jose F. Peralta signed the notice of closure indicating the official termination of PSBA-QC operations, including academic programs and employment of its staff, starting on the last day of its classes on October 18, according to its website http://www.psbaqc.psba.edu/PSBA-QC-HOME.php
In the notice released by PSBA on September 20, it said:
“Notice is hereby given that at Special Meetings held on September 20, 2013, the Board of Directors and the Stockholders owning and representing at least 98.99 percent of the outstanding capital stock of PSBA-QC unanimously approved the resolution to close PSBA-QC and all its educational programs effective at the end of classes on October 18, 2013, the end of the First Semester of Academic Year 2013-2014, due to serious business losses that have been sustained for the past eight (8) years, including the recently concluded fiscal year ending on May 31, 2013.”
PSBA-QC will no longer accept students for the second semester of academic year 2013-2014, it added.
Starting October 28, students currently enrolled in the QC campus will be “accepted and accommodated with the usual admission requirements” at the Manila campus of PSBA in Sampaloc.
“Those students who are interested to transfer may submit their written requests to the Registrar’s Office of PSBA-Manila,” the statement said.
The notice has affirmed the termination of the employment of “all academic and non-academic personnel” of PSBA-QC.
For the academic personnel, the closing of business will be effective on November 8 while for PSBA-QC’s non-academic staff, termination will be on November 29.
INQUIRER.net tried reach PSBA-QC but there has been no response.
Established in 1963, PSBA was considered the top accounting and business administration school in its prime. PSBA-QC is located along Aurora Boulevard in Loyola Heights, Quezon City.
Former students include former Department of Education (Deped) Secretary Jesli Lapus and FedEx and Airfreight 2100, Inc. Chairman of the Board Bert Lina.
It offered undergraduate degrees on business administration, computer science and accountancy as well as graduate school programs on business administration.