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West Virginia college files for bankruptcy a month after announcing intentions to close

By JOHN RABY
Associated Press

CHARLESTON, W.Va. (AP) — A small, private university in West Virginia has declared bankruptcy. The move to file for Chapter 7 bankruptcy by Alderson Broaddus University comes a month after it announced plans to cease operating. According to Thursday’s filing, the university listed between $1 million and $10 million in assets, between $10 million and $50 million in liabilities and at least 100 creditors. On July 31 the university’s Board of Trustees voted to develop a plan to disband after its ability to award degrees was stripped. That forced the Baptist university’s 625 students on the Philippi campus to scramble to enroll in other colleges.

Article Topic Follows: AP National News

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