This report provides an extensive analysis based on the most comprehensive dataset ever assembled for school closure research, including 1,522 low-performing schools that were closed across 26 states between 2006 and 2013. The report finds that even when holding constant academic performance, schools were more likely to be closed if they enrolled higher proportions of minority and low-income students. It also finds test score declines, relative to the comparison group, for two groups of students displaced by closures: those who transferred to schools with a prior record of relatively lower test-score performance and those who transferred to schools with equivalent past test-score performance. The slightly less than half of students who transferred to higher performing schools showed academic improvement relative to their matched peers. In general, although the reviewers found this to be a careful and rigorous study, they see a few missed opportunities. First, the report’s focus on some tenuous analyses (involving pre-closure transfers) obscures its most important findings – disproportionality in school closures and inadequate numbers of higher quality receiving schools, leading to performance declines for most. Second, the reviewers are concerned about statistical modeling choices and matching challenges that may threaten the validity of subgroup analyses (charter school students). Finally, the reviewers would have liked to see the report acknowledge the inescapable moral dimensions of school closure: The communities most likely to be negatively affected are unlikely to have participated in closure decisions.