Atlanta’s Morris Brown College has filed for bankruptcy protection to avoid foreclosure, the 131-year-old historically black college was served last week with a foreclosure notice. The church said a creditor of the historically black college, a corporation that holds $13 million in college bonds secured by its downtown Atlanta property, has called the loans and the college is unable to pay.

Morris Brown College Board of Trustees and Administration Statement:

Like many institutions that have been impacted by the current economic recession, Morris Brown College is experiencing financial challenges. During the past several years, the Board of Trustees and the Administration of the College have been collectively engaged in a planning process to preserve this great historical and educational institution and to position it for a successful future. 

We continue to explore every financial and tactical option legally available to us in our goal to operate at the highest educational level and remain financially viable. We urgently need your commitment and increased support at this critical time. Please help us sustain this 131-year legacy and ensure bright futures for our current and future students as well as the community at large. You can be assured that your contributions will be used to produce quality education to our students and to serve our community with meaningful programs.

We thank you for your continued belief in our fabulous school.