New York College Is Forced to Close After Failing to Sell Itself

Medaille University, a nearly 150-year old private university in Buffalo, New York, is closing its doors after failing to sell itself to a nearby college.

Universities across the country are facing more financial pressure as fewer students enrolland expenses rise. Medaille’s enrollment fell to about 1,537 full-time students in 2021 from about 2,340 a decade earlier, according to data from the National Center for Education Statistics.

Medaille had told bond investors in February that it planned to “sell substantially all of its assets” to nearby Trocaire College, according to a regulatory filing. That sale subsequently fell through.

The ...