Bristol Steiner School has been saved from closure after being placed into administration in December following significant financial problems, Bristol World has reported.

The independent Bristol Steiner School teaches 80 boys and girls aged three to 11 and employs 25 staff.

A fundraising campaign gathered in almost £1 million in loans and donations, which coupled with a realistic transformation plan, has ensured the school will be open for the new school year.

Rowena Kennedy-Epstein, co-chair of the school’s trustees, said: “We are thrilled to announce that Bristol Steiner School has successfully exited administration. This achievement reflects the unwavering dedication and support of our community, whose generosity and commitment have been instrumental in securing our future.

“We know from speaking to parents across the city that an education that builds wellbeing and creativity alongside academic skills is badly needed in Bristol, and we are working to make it more accessible than ever.

“We have moved to a sliding scale fee system and are pleased to now offer bursaries to families of African/Caribbean heritage, reflecting our commitment to diversity and accessibility.”

Gareth Hegarty, a partner at law firm Shakespeare Martineau led the exit from administration on behalf of the school’s Parents, Teachers and Friends Association (PETA). He said: “A solvent exit from administration is truly extraordinary and is testament to the efforts of the local community to bring this school back from the brink. This is a great result for the school, its pupils and local area.”

Hegarty however continued with a rather more pessimistic message: “Data shows that there was a 75% increase in education organisations filing for administration in 2023 compared to the year previous, proving even universities, colleges and schools are not exempt from feeling the combined effects of the challenging financial climate.

“Indeed, the pressures faced by independent schools, in particular, are likely to increase if the new government proceeds with its policy to remove tax exemptions for private schools and introduce a 20% rate of VAT.”

Luke Wilson, a restructuring advisory partner at FRP Advisory, also advised the school’s PTFA. He said: “This is a great outcome, and one that’s a testament to the power of open, honest discussion between stakeholders and the power of community. The result is saved jobs and clarity for staff, students and parents.”

Bristol Steiner School announced it will invest in renovations to the schools building and garden spaces and aims to establish a middle school, catering to students in Years 7, 8, and 9.

Headteacher Angela Cogan commented: “I feel privileged to be part of such an exciting time. The Steiner approach is very close to my heart, and I aim to safeguard everything we hold dear while ensuring children make the best progress possible.”