Officials say Pencader Business and Finance Charter School in New Castle will close in June following Thursday's unanimous vote by the board.
The unusual vote followed a recommendation by Secretary of Education Mark Murphy. He urged the board to revoke Pencader's permission to operate as a public school.
Pencader was founded in 2006 for students interested in business careers. Four hundred students are currently enrolled, and parents and students spoke about how much they loved the school at public hearings this month.
The school has had academic, financial and administrative problems and has been placed on probation four times. The school's leadership was replaced, but state officials say they lacked confidence in the new leaders.