Administrators from Grant Thornton have been appointed to St Ursula's High School Trust following a request from its board of trustees.
Nigel Morrison and Trevor O’Sullivan are now handling affairs at the school.
St Ursula's collapsed because of a decline in student numbers from circa 400 pupils to about 160. O'Sullivan said the school was no longer "financially viable" in this format.
"Whilst the trustees have made every effort to find a potential purchaser capable of delivering a sustainable school operation, unfortunately this has not been achievable in the context of the many constraints and short timescale available," said O'Sullivan.
"As a result, there is no available funding and the Trust has been unable to meet July salary payments. Consequently, the school will close," he added.
O'Sullivan said the administrators would provide "every assistance" to parents to help them find alternative places for their children including liaising with local authorities.
The school, which is co-educated, is located in Westbury-on-Trym in Bristol.
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