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

Aug 31, 2023, 3:30 PM | Updated: 4:06 pm

CHARLESTON, 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. The campus community was notified of the decision, the university said in a statement.

Alderson Broaddus board chairman James Garvin said that the board “is grateful to the students, employees, alumni and donors who have embodied the Christian spirit of the University, and through them, the legacy of AB will live on.”

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 university said the revocation meant the school could have offered only limited classes to about 20 students this fall, and it 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.

Student academic and financial records have been transferred to West Virginia Wesleyan, located about 21 miles (34 kilometers) from Alderson Broaddus. West Virginia Wesleyan will make transcripts and other information available to former Alderson Broaddus students.

Earlier in August West Virginia Wesleyan said it had accepted more than 20 transfer students from Alderson Broaddus.

Alderson Broadus said it had anticipated receiving an employee retention credit payment from the Internal Revenue Service of more than $1 million. However, the funds were not received in time.

The website of Alderson Broaddus was taken down Thursday and the school encouraged its employees to seek unemployment insurance benefits.

United States News

Associated Press

Stock market today: World shares track Wall Street’s slump after Fed says rates may stay high in ’24

World shares have declined, echoing a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. Benchmarks fell by 1% or more in Paris, Tokyo, Sydney and Hong Kong. U.S. futures slipped and oil prices also were lower. On Wednesday, the […]

5 hours ago

FILE - Deja Taylor arrives at federal court, June 12, 2023, in Virginia Beach, Va. Taylor, the moth...

Associated Press

Mother of 6-year-old boy who shot his teacher in Virginia could be jailed for failing drug tests

NEWPORT NEWS, Va. (AP) — The mother of a 6-year-old who shot his teacher in Virginia could be jailed Thursday for failing drug tests while awaiting sentencing on federal weapons charges that she used marijuana while possessing a firearm. A bond revocation hearing is set in federal court in Newport News for Deja Taylor. Her […]

5 hours ago

FILE - Anthony Sanchez, right, is escorted into a Cleveland County courtroom for a preliminary hear...

Associated Press

Man set to be executed for 1996 slaying of University of Oklahoma dance student

McALESTER, Okla. (AP) — Oklahoma is set to execute an inmate Thursday morning for the 1996 slaying of a University of Oklahoma dance student, a case that went unsolved for years until DNA from the crime scene matched a man serving time for burglary. Anthony Sanchez, 44, is scheduled to receive a three-drug injection at […]

5 hours ago

A Brightline train approaches the Fort Lauderdale station on Friday, Sept. 8, 2023, in Fort Lauderd...

Associated Press

First private US passenger rail line in 100 years is about to link Miami and Orlando at high speed

MIAMI (AP) — The first big test of whether privately owned high-speed passenger train service can prosper in the United States will launch Friday when Florida’s Brightline begins running trains between Miami and Orlando, reaching speeds of 125 mph (200 kph). It’s a $5 billion bet Brightline’s owner, Fortress Investment Group, is making, believing that […]

6 hours ago

The entrance to the Las Vegas Review-Journal campus is shown in Las Vegas, Wednesday, Aug. 30, 2023...

Associated Press

Outdated headline sparks vicious online hate campaign directed at Las Vegas newspaper

NEW YORK (AP) — A Las Vegas newspaper is being viciously attacked online for its coverage of an alleged murder of a retired police chief, either because of a misunderstanding or a deliberate attempt to mislead. The “firehose of hatred” has led the Las Vegas Review-Journal to sift through email directed at one of its […]

6 hours ago

Disbarred attorney Alex Murdaugh arrives in court in Beaufort, S.C. Thursday, Sept. 14, 2023. Murda...

Associated Press

Alex Murdaugh plans to do something he hasn’t yet done in court — plead guilty

Convicted murderer Alex Murdaugh is expected to step before a judge Thursday and do something he hasn’t done in the two years since his life of privilege and power started to unravel: plead guilty to a crime. Murdaugh will admit in federal court that he committed 22 counts of financial fraud and money laundering, his […]

7 hours ago

Sponsored Articles



Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.



When most diets fail, re:vitalize makes a difference that shows

Staying healthy and losing weight are things many people in Arizona are conscious of, especially during the summer.



Here are the biggest tips to keep your AC bill low this summer

PHOENIX — In Arizona during the summer, having a working air conditioning unit is not just a pleasure, but a necessity. No one wants to walk from their sweltering car just to continue to be hot in their home. As the triple digits hit around the Valley and are here to stay, your AC bill […]

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