A rescue plan to save Immanuel College, the private school in Bushey, which is due to close at the end of the summer term, is in the pipeline, the JC understands.
Governors announced last week that the modern Orthodox school, which has around 300 pupils, was no longer viable because of falling rolls.
But an action group of parents is believed to have mounted intensive efforts to raise money to underwrite the future of the school.
Two sources have confirmed that details of a plan to rescue the college are being worked out.
Substantial sums are said to have been pledged with the sources putting the figure at £12.7 million.
One parent who is familiar with it said: “We are still at the early days of discussion but everything that is happening is highly encouraging.”
The parent added: “The resignation of the [governing] board is a prerequisite to any credible plan.”
Immanuel, which opened in 1990, was the top performing Jewish school in the country last year in the Times’ annual table, measured by GCSE and A-level results.
Yavneh College in Borehamwood, the nearest Jewish state school to Immanuel, earlier this week announced a £500,000 drive to fund spare places to take some Immanuel pupils.
Governors of Immanuel, which charges fees of £29,700 a year, said last week the school would need an intake of 50 full fee-paying students a year to break even.
The college offers a number of bursaries and scholarships and provided additional financial support last year in order to aid some families whose children were unable to secure a place at a Jewish state school.
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