JACKSONVILLE, TX (KLTV)- An East Texas college in the middle of a bankruptcy crisis will soon be on the auction block.
Lon Morris College, in Jacksonville, will be auctioned on Dec. 13 in Dallas, pending court approval. Click here to view the Lon Morris online auction entry.
According to the auction service's website, AmeriBid, the "core" of the college's 112-acre campus is set to be sold.
Some of the buildings that will be sold include the library, chapel, administration building, classrooms and athletic facilities.
"We're delighted to have the auction plans finalized. AmeriBid will be providing prospective bidders with detailed information about the school and its extensive campus," Dawn Ragan, Chief Restructuring Officer for the college, said in a statement.
The auction will be performed with the school being sold in multiple pieces or as a whole.
"It will sell in the combination of parcels that brings the highest total price for the school," Stephen Karbelk, co-chairman of AmeriBid said in a statement.
"It would make an excellent home for seniors, substance rehabilitation center, juvenile detention facility, or any of a number of other uses," said Karbelk. "We're providing very detailed information on the various facilities to make it easier for interested individuals."
Lon Morris has not had classes since the end of the Spring 2012 semester and has been in bankruptcy proceedings since July.
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Source: http://jacksonville.kltv.com/news/news/93488-etx-college-campus-set-auction-block
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