Lourdes University files for Chapter 11 bankruptcy protection
The filing is part of the process to wind down operations and settle remaining assets
SYLVANIA, Ohio (WTVG) - Lourdes University filed a voluntary Chapter 11 bankruptcy petition Monday, a move the Board of Trustees said is intended to support an orderly wind down of operations and the fair settlement of its remaining financial obligations.
A spokesperson said the filing should not affect the employment of any remaining staff. Students completed their final courses Friday, and the university said the filing will not affect them, including their ability to receive a Lourdes degree.
The board voted unanimously to authorize the filing after consulting with university administrators and financial and legal advisors.
“This was a difficult but necessary decision,” said Jonnie Hodges, Chair of the Lourdes University Board of Trustees. “The Board has worked carefully and deliberately to evaluate the University’s financial position and the alternatives available to us. We determined that Chapter 11 provides the most responsible and equitable process for Lourdes University, its creditors and other interested parties.”
The university will submit a Plan of Liquidation to the Bankruptcy Court.
That plan is expected to be funded through the sale of available assets, with proceeds distributed according to the priorities established by the Bankruptcy Code, the university spokessaid.
Lourdes remains accredited by the Higher Learning Commission, and its degree-granting authority will remain in place at least through Summer 2026. Previously approved teach-out activities to help former students complete their academic programs will also continue.
“Our priority remains completing this process with integrity, transparency and respect for the students, employees, alumni, creditors and community members who have been part of Lourdes University,” said Sister Nancy Linenkugel, OSF, DM, president of Lourdes University.
Lourdes announced in February that it planned to shut down after this academic year, citing financial issues and declining enrollment.
More information is available at Lourdes.edu/closure.
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