The small liberal arts college in Massachusetts was struggling financially. Now it’s all over.

The Boston Globe reports:

Mount Ida College to close; UMass to acquire Newton campus

Struggling Mount Ida College, a liberal arts school with roots dating back to 1899, will close and UMass Amherst will acquire its Newton campus under an agreement finalized Friday.

The agreement will allow students at Mount Ida to complete their degrees at the University of Massachusetts Dartmouth. It also provides UMass Amherst with a long-sought presence closer to Boston, officials said.

The deal was negotiated over the past two weeks as the small liberal arts college in Newton looked for ways to stay viable after another option, a potential merger with Lasell College, fell through.

The deal will result in layoffs for the 280 full- and part-time Mount Ida employees, the college said.

“The financial pressure on small colleges has never been greater, and our limited resources obligate us to consider the long-term future of our community,” Mount Ida president Barry Brown wrote in an e-mail sent Friday to students to announce the news.