Posted on Friday, February 1st, 2013 at 7:47 pm
Lon Morris College, an accredited two-year junior college, has been sold in an auction after filing for bankruptcy in 2012.
Said to be the oldest private junior college in Jacksonville, East Texas, Lon Morris was auctioned off after two weeks of bidding under the facilitation of Ameribid.
With bids totaling up to $2.2million, much of the school’s property went to the Jacksonville school district and a local office supplier, 11 X 17, Inc. The administration building and sports grounds was acquired by the Jacksonville school district, while large parts of the academic buildings, chapel and school dormitory went to 11 x 17, Inc.
Proceeds from the auction will go to the creditors and former employees, according to Lon Morris chief restructuring officer Dawn Ragan, provided the sale is approved by the bankruptcy court.
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