After 130 years of independent girls' schooling, credit crunch forces historic Wentworth College into administration

Education experts have warned that other private schools could face the same fate as Wentworth College, which went into administration when their bank called in a £750,000 loan.

The Bournemouth girls' school had planned to start taking in boys in September to boost their numbers but had only managed to attract 15 boys - 60 short of the 75 they needed.

Schools in danger: There has been a drop in demand for girls-only education (posed by models)

The school, a member of the Girls' Schools Association (GSA), shuts next week and it was hoped it would reopen after the holidays if a new owner was found.

However, parents have been warned to find alternative schools for September and teachers were on holiday when they were apparently called and told they had lost their jobs.

Wispers School in Haslemere, Surrey, also belongs to the GSA and will not reopen after the summer holidays. They blamed financial pressures and a drop in the demand for all-girls' education.

Experts have said the closures are likely to be the 'first of many' to hit small independent schools as the economic slump continues.

Wentworth College had borrowed money to build sports facilities for boys but the bank – thought to be Lloyds TSB – has now reportedly demanded payment with no notice.

The secondary school charged £10,500 a year for day pupils and £17,000 a year for boarders. There were about 50 staff and 180 pupils.

It was established in 1871 and has a prime coastal location near the exclusive Sandbanks peninsula. It was described as outstanding in a recent report by the schools' watchdog, Ofsted.

People trying to contact the school yesterday heard a recorded message that said administrators from Grant Thornton had been appointed on July 28 due to 'financial circumstances', but parents were reassured that exam results would be released as normal.

David Richardson, acting chairman of the governors, said: 'It came as a great shock.'

He told The Times: 'We are trying to save the school. We’re being optimistic and we think we have a chance, but we have to move fast. We are in a difficult situation. We now have to get something sorted within days.'

The administrators will try to sell the school as a going concern, but nearby independent schools have already been flooded with inquiries from parents trying to move their children. 

A spokesman for Grant Thornton said: 'Given the current economic climate, linked with a short-term fall in pupil numbers and limited availability of funding, the board of governors took the decision to place Wentworth Milton Mount Ltd into administration.'

The GSA, whose president, Vicky Tuck, the principal of Cheltenham Ladies’ College, said: 'We’re not exempt from the winds of change.

Schools are run as a business and the sums have to add up.'