Sutton, Vermont - April 5, 2005
Good news for a private boarding school in Sutton, the U.S. Bankruptcy Court has given the ok for it stay open until a buyer is found.
The King George School caters to troubled youth.
Last month, school officials were told that the parent company ,CEDU, based in California, filed for Chapter 7 bankruptcy.
Administrators were told to close the school immediately and send students home. Instead, school officials worked with parents to try and raise money to pay bills and staff salaries.
The Bankruptcy Court originally gave the school two weeks to come up with the cash, but now has stated that the school can remain open until the school finds a new owner.