Here in Spain around 200 English schools have closed in the past 4 or 5 years including around 100 Wall Street Institutes, who knows how many Openings, Oxford English watchyamacallits, etc. etc. and just this last week another chain went down of "Studyo"s. I don't think these guys had many English classes though (a few I'm sure), but a lot of other teachers got caught out. (Some got holding the bag for Social Security payments, which the school neglected to pay for quite some time apparently.)
All in a days work for an experienced teacher.
Cheers,
MadridTeacher