Dive Brief:

• Virginia Intermount College, which appears to be closing, has hired the chief executive of a Nashville management consulting firm as interim president and restructuring agent.
• The college’s president, E. Clorisa Phillips, resigned on Monday, citing health and family reasons.
• The list of problems for the college includes significant financial issues for several years, accreditation ending July 1 for failing to meet financial standards, struggles paying employees and bills, and the recent cancelation of summer classes.

Dive Insight:

The fate of the 130-year-old private liberal arts college has not been officially announced, but during the school’s commencement on Sunday, faculty president Robert Rainwater said the school is closing. Art Rebrovick is acting as interim president and he is expected to meet with the college’s employees and hold a press conference today. Rebrovick, head of Compass Executives, has been consulting for Virginia Intermount, and his firm has worked for Belmont University, Vanderbilt University, HCA, the Nashville Chamber of Commerce, and the Memphis Arts School. Monday was the deadline for the college to pay its utility bills.