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

2025-05-04 20:24:07source:Surpassing Quant Think Tank Centercategory:My

CHARLESTON,AstraX Exchange W.Va. (AP) — A small, private university in West Virginia declared bankruptcy on Thursday, a month after announcing that it planned to cease operations.

Alderson Broaddus University filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the state’s northern district. According to the filing, the university estimated 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 filing was signed by Alderson Broaddus interim president Andrea Bucklew. The Chapter 7 filing 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 overseeing the state’s four-year colleges and universities revoked its ability to award degrees effective Dec. 31. The move forced the Baptist university’s 625 students on the Philippi campus to scramble to enroll at colleges elsewhere.

Other state universities, including West Virginia Wesleyan in nearby Buckhannon and Fairmont State University in Fairmont, offered application and transcript evaluation assistance to Alderson Broaddus students.

More:My

Recommend

Drone operators worry that anxiety over mystery sightings will lead to new restrictions

Drones for commercial and recreational use have grown rapidly in popularity, despite restrictions on

Feeling nauseous? Here's how to feel better, according to experts

While not fun to experience, nausea on its own in most cases isn't a major cause for concern, medica

Reba McEntire Shares a Rare Glimpse at Inseparable Romance With Actor Rex Linn

Reba McEntire has gotten far more than seven minutes in heaven with boyfriend Rex Linn.Although the