Fab, you are correctly named! Kudos on your Panhellenic Spirit!
A very similar thing happened on our campus (but with smaller numbers!) when I was an active. I wrote letters to the National Panhellenic Council, our EO, and anywhere else I thought would help. Luckily, your group seems to be smart enough to go ahead with their plans.
I hope someone reminds the other sororities that the shoe could easily be on the other foot, and THEY could be the ones who are struggling.
Please consider running for a Panhel office, Fab - we need more people like you!