Our Lady's of Abingdon will be secured while its owners assess options for the site, the Institute of Our Lady of Mercy said, after the private school in Oxfordshire closed last month because of financial difficulties.

Administrators have been appointed to examine the school's debts and liabilities, and the Catholic order based in Leeds said there were "no plans" for the land and buildings at present. Robust security arrangements are being put in place to protect the main site and the playing fields, which lie across the road in central Abingdon.

The school, founded by the order in the 19th century, closed in August after a fall in pupil numbers. Its leadership had partly blamed the introduction of VAT on school fees for worsening finances. The institute said it was informed of the school's financial problems only "days" before the closure was announced and that it had recently been asked to reduce the lease terms to help safeguard the school's future.

The site had been entered into a 99-year lease to a charity run by the school's governors, Our Lady's of Abingdon Trustees Ltd, in 2007. The institute said it had no oversight after that transfer other than holding a single governor position on the board until 2022; it will now take back control of the property.

In a statement the order said it had been "sympathetic" to requests for further concessions on the lease but that it could not reduce the favourable terms without potentially destabilising other charitable work. The institute added it expected the closure to have a "significant" impact on its operations and believed it was unlikely to recover rent arrears and other costs.

Parents and families have expressed frustration about the sudden shutdown, with some saying school leadership had "dropped off the face of the earth". The institute urged that the "human cost" not be forgotten, saying: "Education has been disrupted, jobs lost and a school community disbanded. Our thoughts and prayers continue to be with all those most impacted by this news."

It emerged this week that parents were unlikely to be repaid for deposits or pre-paid fees because of the extent of the school's debts. Former staff are expected to receive a single payment through the government's Redundancy Payment Service, the order said.

Security measures are being implemented while the property remains empty and administrators continue their assessment. The institute said it hoped to find a "charitable" use for the land and buildings but reiterated that no firm plans had been made.

Playing fields of Our Lady's of Abingdon

The closure has revived debate over the financial pressures facing independent schools, including declining enrolments and rising costs. For the local community, the immediate concerns remain the treatment of creditors, the future employment of former staff, and the use of the site by the institute, which now controls the property while administrators determine the school's outstanding obligations.

A further image of the site has been released as the institute implements security measures and begins consultations on next steps with administrators and other stakeholders.

Entrance to the former school grounds