California school closes after 74 years; 36-acre campus listed for $14m
Palm Valley School in Rancho Mirage has closed after 74 years and filed for Chapter 7 bankruptcy, leaving parents and staff devastated. The 36-acre California campus, which includes 53 classrooms, academic buildings, sports fields, a gymnasium and amphitheater, is now listed for $14 million. The school had operated at the location since 1992.
After a 74-year run, the Palm Valley School in Rancho Mirage, California, has closed its doors and put its 36-acre campus on the market for $14 million. The school, which operated from 1952, suffered financial troubles that came to light in April when administrators told families it was exploring a partnership or merger with an international educational organization.
Families were asked to sign enrollment contracts by May 1, confident that the school would remain open. However, in May, the school announced it would continue for the upcoming academic year with the help of a financial gift. Yet, by June, the institution filed for Chapter 7 bankruptcy and declared it would not reopen for the 2026-27 school year.
With the abrupt closure, parents and employees were left feeling deceived about the school's financial health. Shaymi Ristaino, a teacher and parent at the school, expressed her devastation over the lack of transparency from the board. Ristaino, who lost her job and the enrollment fee she paid for her daughter, emphasized that the community was left "devastated."
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