The school was founded in 1844 and will close in 2005

St Elphin's School in Darley Dale, near Matlock, was saved from closure in 2004 when a consortium bought it for �2.5m and then started admitting boys.

But the company says the independent school is no longer viable as a business, and it will close on Friday.

Parent Cathy Crystal, who said she was extremely upset by the announcement on Tuesday, said: "Nobody can believe it."

She added: "We were told last year when the new proprietors took over that the school would be open for five years, and it would run at a loss for two, and then it should start making money.

"We were told last night, it was going to close on Friday.

"It is not very good at all. We just cannot believe it."

Staff and pupils at St Elphin's, with pupils aged two to 18, were told the school would close last summer, but it was saved by an injection of cash.

The school owners said in statement they had "worked hard" to make the school viable, but this had proved "impossible".

The statement said: "It is with considerable regret, the school must close immediately."