2023-08-31 23:00:27
A small private West Virginia university filed for bankruptcy Thursday, a month after announcing it planned to cease operations.
Alderson Broaddus University filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the Northern District of the state. According to the filing, the university estimated that it had between $1 million and $10 million in total assets, liabilities of between $10 million and $50 million, and owed money to between 100 and 199 creditors.
The presentation was signed by Alderson Broaddus interim president, Andrea Bucklew. Filing for Chapter 7 would allow the university to liquidate its assets.
On July 31, the university’s Board of Trustees voted to develop a plan to disband after another board that oversees the state’s four-year colleges and universities revoked its degree-granting ability effective December 31. The measure forced the 625 students of the Baptist University to remain on the Philippi campus. fight to enroll in universities elsewhere.
Other state universities, including West Virginia Wesleyan in nearby Buckhannon and Fairmont State University in Fairmont, offered application and transcript review assistance to Alderson Broaddus students.
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