In a last-ditch effort to save one of Atlanta's historic colleges from foreclosure and the auction block, school leaders filed for bankruptcy over the weekend as hundreds came together to pray.
Hundreds of alumni and supporters gathered on the southwest Atlanta campus Saturday to pray for Morris Brown College. More than 125 years after former slaves founded the college, it is facing foreclosure.
Morris Brown lost accreditation in 2002 after years of growing debt. Its assets are scheduled to be auctioned off Sept. 4, reported Channel 2's Erin Coleman.
"We have over $30-something million worth of debt on the books, and most of it has been on the books for over 10 years," said Morris Brown President Dr. Stanley Pritchett Jr.
While college leaders work on a plan, attorneys say they've found a way to keep the school off the auction block by filing for bankruptcy.
"It is our expectation that there will be no sharer sale on Morris Brown campus on Sept. 4 as a result of bankruptcy reorganization petition filed today," said Morris Brown attorney Renardo Hicks.
Despite the hardships, many are hopeful - especially alumni who are standing by their school.
"I am here as a testament to the value of the education provided by Morris Brown College," graduate Cicely Bland.
"We love Morris Brown and Morris Brown will remain," added 1951 graduate Victoria Williams Jenkins.
In its heyday, Morris Brown had about 3,000 students enrolled. It now has about 50 students.
Hundreds of alumni and supporters gathered on the southwest Atlanta campus Saturday to pray for Morris Brown College. More than 125 years after former slaves founded the college, it is facing foreclosure.
Morris Brown lost accreditation in 2002 after years of growing debt. Its assets are scheduled to be auctioned off Sept. 4, reported Channel 2's Erin Coleman.
"We have over $30-something million worth of debt on the books, and most of it has been on the books for over 10 years," said Morris Brown President Dr. Stanley Pritchett Jr.
While college leaders work on a plan, attorneys say they've found a way to keep the school off the auction block by filing for bankruptcy.
"It is our expectation that there will be no sharer sale on Morris Brown campus on Sept. 4 as a result of bankruptcy reorganization petition filed today," said Morris Brown attorney Renardo Hicks.
Despite the hardships, many are hopeful - especially alumni who are standing by their school.
"I am here as a testament to the value of the education provided by Morris Brown College," graduate Cicely Bland.
"We love Morris Brown and Morris Brown will remain," added 1951 graduate Victoria Williams Jenkins.
In its heyday, Morris Brown had about 3,000 students enrolled. It now has about 50 students.
WSBTV
