There are two sides to every story - so before we start attacking the airport:
1) The owner has had a stroke, the school has been run by his wife since. If the will to continue the business was there, why not re-locate to another airfield?
2) Flying training is not ceasing at EMA - Donair is still there.
3) Contrary to popular opinion expressed here the site at EMA is extremely small for the business it contains. There is precious little room to expand where needed. One look at the airport diagram in the AIP (if you have a knowledge of what is already on the site) shows to all but the most blinkered attitude that options for re-location are minimal, if they exist at all.
4) Unlike areas like Newcastle, Belfast etc the area is well served by 3, licenced, GA airfields.