Second Bid For Alderson Broaddus Property Filed On Last Day Of Bidding

In a last-minute move, Craig G. Phillips has submitted a bid of $5 million for the purchase of the Alderson Broaddus property, marking the second attempt to acquire the historic institution. The bid, accompanied by a $10,000 deposit, was filed today at 11 a.m., coinciding with the deadline for all bids on the property.

This follows the initial bid of $4.9 million placed by DACK Investments, LLC last month. The battle for the future of Alderson Broaddus now heads to a crucial stage, with a hearing scheduled for January 31, 2024, at 11 a.m. The venue for this decisive event is the Bankruptcy Courtroom in Clarksburg.

Authorized representatives from both Craig G. Phillips and DACK Investments, LLC are mandated to be present at the hearing to participate in the bidding process. The outcome of this hearing will determine the fate of the property and potentially shed light on the future of the historic institution.

Alderson Broaddus, with a rich history spanning 153 years, was forced to file for bankruptcy at the end of August 2023. The West Virginia Higher Education Policy Commission played a pivotal role in the closure of the institution, leaving the school community and stakeholders in uncertainty.

The motives and plans of both bidding parties remain shrouded in mystery at this point. It is unclear whether the bidders intend to revive the educational institution or pursue alternative plans for the property. The Bankruptcy Court's decision, expected after the January 31 hearing, will likely provide more clarity on the future of Alderson Broaddus.

For now, the community anxiously awaits the resolution of this legal and financial battle, hoping for a decision that aligns with the best interests of the Barbour County.