LAS VEGAS (KTNV) — There is a new effort by students and staff to save the Art Institute of Las Vegas after the sudden announcement it would close by the end of March.
The announcement came as a shock.
"It's just one heartache, nightmare after the other," said Art Institute student Ashayla Ross.
"We were blindsided," said Art Institute teacher William Turbay.
Turbay is a 16 year veteran of the school and said there may be a way to save the school through some legal wrangling.
"We want to start fresh, has nothing to do with a major corporation," said Turbay.
"Students in Las Vegas, a board of directors in Las Vegas, controlling the Las Vegas school or the arts, or whatever we are going to call it," added Turbay.
Turbay said Lawyers are working on the deal which involves unnamed local investors.
"We have to get interim funding for the shortfalls for whatever happens," said Turbay.
"We have to start the quarter with classes, students," added Turbay.
"We lose the students, we lose the school and it's impossible to get back," explained Turbay.
Turbay said the receivership currently controlling the school would be changed into a for-benefit corporation.
13 Investigates has uncovered court documents that show the parent company that operates the network of Art Institute locations, Dream Center Education Holdings L.L.C is in serious debt.
Turbay said the plan is ambitious and there is a fundraising effort to pay for the attorney.
Turbay is optimistic the plan will come together before the doors are set to close on March 31.