A story featured on Atlanta Journal-Constitution’s website shows that Morris Brown College, a Historically Black College located in Atlanta, GA, will be soon freeing itself of Chapter 11 bankruptcy. The school filed in 2012.
The college, which was established in 1881, reportedly had only 35 students enrolled as recently as 2014, had accumulated approximately $30 million in debt. Much of the debt was owed to the African Methodist Episcopal Church, which debts owed to the church at nearly $19 million. Two groups are emerging to salvage the HBCU. Invest Atlanta and Friendship Baptist Church are the two groups stepping in to purchase the 36-acre property of the school.
by B. Clark