The impact of the credit crunch has forced an Auckland private school to make all its teachers redundant.
Hill Top School at Blockhouse Bay has been running since 1915, but a significant fall in enrolments means all nine teachers have been given their notices.
Parents have been told to find alternative schools for their children.
School fees are around $10,000 a year, and Board of Trustees chairman Rhonda Evans says people do not have that sort of money at the moment.
She says the only way the school can continue is with a major funding boost, but banks are reluctant to lend large sums in the current climate.
- NEWSTALK ZB