Latest news with #CasaLaxmi
Bloomberg
22-05-2025
- Business
- Bloomberg
NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy
An Upper West Side private school is trying to raise enough cash to stay afloat until the end of the school year after a New York bankruptcy judge rejected its request for an emergency loan. Manhattan Country School and a little-known foundation called Casa Laxmi are asking for donations to make payroll and keep the school open until graduation on June 12, according to Kiran Kulkarni, Casa Laxmi's chief executive officer and chairman of the school's board.
Bloomberg
20-05-2025
- Business
- Bloomberg
NYC Private School Faces Imminent Closure as Judge Rejects Loan
A private school on Manhattan's Upper West Side is at risk of shutting as soon as this week after a bankruptcy judge rejected an emergency financing plan that would keep it open. Manhattan Country School, a progressive institution that was founded in 1966, has been using next year's tuition deposits to make payroll and borrowed from its board members to keep the lights on. The school had bet its future on a partnership with a foundation called Casa Laxmi, which offered an $8 million loan with a 12% interest rate to sustain it for the next four months.
