Bankrupt Lon Morris College Campus Sold at Auction

Category: More headlines,News |
         Email
Print Friendly

by Associated Press

JACKSONVILLE Texas — The oldest junior college in Texas has been sold at auction with much of the property going to the local school district and an office supply company.

Oklahoma-based AmeriBid said Tuesday the auction of Lon Morris College that started Jan. 14 has been completed, with winning bids totaling about $2.2 million. The two-year college located in the East Texas town of Jacksonville filed for bankruptcy and suspended classes last year.

The Jacksonville school district’s purchases included the administration building, gymnasium and athletic fields. Jacksonville-based office supplier 11 x 17 Inc. bought most of the academic buildings, the chapel and student residences.

The Lon Morris chief restructuring officer, Dawn Ragan, says proceeds will be used to pay creditors and the school’s former employees.

The sale is subject to bankruptcy court approval.

Semantic Tags:

Related articles

Stage Set for Showdowns Over Potential Contraction of HBCUs

Veteran Out-of-State Tuition Row Intensifies

Morris Brown College Files for Bankruptcy

Morris Brown Faces Foreclosure

Black Georgia Lawmaker Calls on Colleagues to Help Morris Brown

BI What’s New

College-Centered Auction Site Debuts

Struggling Morris Brown College Announces New President

Morris Brown May Seek Accreditation With Another Agency

Recent Tweets From Diverse

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Close
JOIN THE CONVERSATION!
Join the conversation with our 30,000 social media participants by following us on Twitter @DiverseIssues and like us on Facebook at https://www.facebook.com/DiverseJobs as we celebrate the 30th anniversary of Diverse: Issues in Higher Education.