Private College Where Most Students Are Athletes Goes Bankrupt
- Alderson Broaddus University filed for Chapter 7 bankruptcy
- West Virginia school has had financial challenges for years
The school was created in 1932 through a merger of two institutions.
Photographer: Frederic J. Brown/AFP/Getty ImagesAlderson Broaddus University, a private Baptist university in West Virginia where most students play varsity sports, filed for bankruptcy with plans to liquidate despite a last-minute rescue effort by the state’s governor.
The university on Thursday filed a Chapter 7 bankruptcy petition, the first step toward handing control of the institution to a court-approved liquidator. Philippi, West Virginia-based Alderson Broaddus — which counts roughly 700 students — has for years struggled financially.
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Private College Where Most Students Are Athletes Goes Bankrupt