JACKSONVILLE — Just to refresh your memory, Lon Morris is currently under the care of Bridgepoint Consulting -- a firm meant to help the school get their overextended finances in order.
Last night, chief restructuring officer Dawn Ragan told KETK in a media release that they've filed a voluntary Chapter 11 Bankruptcy petition in the East District of Texas, Tyler division.
And that's not all -- they've hired a firm called Capstone Partners to help get another educational institution to partner with them.
Today KETK spoke briefly with David Hubbard, the dean of students, one of the 11 employees left.
He confirmed everything in the media release with us...and we asked him a question that's been on many people's minds...if they partner with another college...what will happen to the name Lon Morris?
A name with a lot of history and love behind it.
"You know, I've had that question asked before...I have no idea. I would certainly hope that the legacy could be preserved. The name as well as historical references...from just a historical standpoint," Hubbard said.
Hubbard also tells KETK, Summer II is starting up with just online classes.
And the restructuring firm is still working with the school's debt situation, so they hope to have a modified academic schedule in the fall.