A small, private university in West Virginia declared bankruptcy on Thursday, a month after announcing that it planned to stop operating.
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. The campus community was notified of the decision, the university said in a statement.
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