A business school in Germany has declared bankruptcy after struggling for a year with low enrollment in its full-time MBA program, and it blames its partner school, Purdue’s Krannert School of Management, for cutting off the flow of students.
The bankruptcy ends a 14-year run for the Graduate International School of Management and Administration (GISMA) in Hanover, which was founded in 1999. In a German-language statement (PDF) posted on the school’s website on May 14, GISMA said the problems started in 2012, when it could only enroll 24 candidates for the full-time MBA program. The school’s website lists the class size for the program as 60. The drop in enrollment resulted in “financial constraints” that cost-cutting could not alleviate, the statement said.
