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.