Shuttered Alabama College Defaults After Campus Sale Falters

Birmingham-Southern College, a liberal arts school in Alabama that closed earlier this year, didn’t make a debt payment due in December, according to a regulatory filing.

• “The College is delinquent in lease payments to be used for scheduled mandatory redemption and interest due on the Bonds on December 1, 2024. No other funds are available to pay debt service on the Bonds under the indenture pursuant to which the bonds were issued”: filing
• The school is looking to sell its campus after its planto sell its campus to Miles College fell through, the school announced in November ...