A financially troubled Dartmouth private school stills plans to move to Hants County this September, but it's not clear how many students will follow. 

Newbridge Academy acknowledges it’s losing money and, now it seems, so are some of the parents of students enrolled there.

When Dave Hanna first heard Newbridge Academy was in financial trouble, and leaving its Dartmouth location he felt the sting.

His son was finishing up grade 10 and the balance of academics and athletics was a perfect fit.

“For my son, where he did so well at that program at that school, and to be taken away from him with the expectation of something being there for him and now it's gone,” Hanna said. “It's hard.”

Now, with the school moving more than 40 km away to East Hants, the Newbridge experience for the Hanna family is likely over.

Newbridge Academy did not return CTV's call to request an interview, but CEO Trevor MacEachern did tell parents in an internal email:

“I am now out of money. Newbridge Academy is going out of business so there is no money or recourse remaining for any further refunds beyond what I have committed to and for that I am truly sorry.”

That means there's a major financial downside for Hanna.

When his son enrolled here, he gave the school a $2,500 commitment bond with an understanding that if his son graduated from Grade 12, he could get it back.

He also gave signed over $1,000 as down payment for next year's tuition.

Now, he knows he's not going get back the combined total of $3,500.

“That's not going to happen,” Hanna said.

It's also a financial setback for the Halifax Regional Municipality.

“It's a loss on many aspects,” said Halifax Deputy Mayor Tony Mancini.

Newbridge academy was paying the city a lot of money to use the nearby four-pad arena and adjacent sports fields.

Mancini estimates the city was getting between $13,000 to $15,000 per month for the rentals.

That will put a significant dent in the HRM’s revenue.

One Newbridge parent who paid the $2,500 bond and a $4,000 deposit on next year's school year doesn’t expect to see a penny of that.

With files from CTV Atlantic’s Paul Hollingsworth.