The San Francisco Art Institute (SFAI) has filed for bankruptcy due to mounting financial troubles. This may lead to the liquidation of over $65m worth of assets, including an archive featuring artworks by famous alumni. The school had attempted fundraising efforts and sold debt to avoid foreclosure, but ultimately had to close its doors after a failed bid from the University of San Francisco.
The SFAI Legacy Foundation + Archive has been created to safeguard the school's archival collection. However, the fate of Diego Rivera's mural, The Making of a Fresco Showing the Building of a City, is unknown. The bankruptcy filing revealed that the school has between 100 and 199 creditors, including former faculty and staff. San Francisco supervisor Aaron Peskin is committed to preserving the landmark Diego Rivera murals.