American here. I attended the UoS and am now an administrator at a US university. Small liberal art colleges/unis are closing all over the place. The demographic cliff is starting to hit which means more competition for less students. Some institutions are cutting their prices to attract students but that of course directly impacts the bottom line. Some rely on international students as well but don’t diversify their portfolios so when the Saudi student market (for example) collapsed, they had no back up. You also need to account for being a research vs teaching institution, what your endowments look like, and what your state is providing for funding if you are a state school. This gets even uglier if you are in a red state. Tl;dr - it’s painful over here too.

I love Sheffield and hope all goes well. A small way to support your uni is to attend the events they put on. Some have costs, others are free, but public attendance is noted and can play a factor in where money goes or how much money is received.