Anna Maria College in Paxton filed for bankruptcy on Friday, a sign of its financial challenges following its abrupt closure announcement in April.
Under Chapter 11, the college is reorganizing its debts and may still be able to operate and borrow new money while it figures out how to pay back debt over time.
The college has between 200 to 999 creditors with between $10 million and $50 million in liabilities and assets, according to the bankruptcy filing…