SHAWNEE, Okla. – Residents can now own something from one of the state’s oldest universities, as long as they are the highest bidder.
In November, students and staff members at St. Gregory’s University learned that their school was closing at the end of the fall semester.
The Board of Directors says the decision to close the university was necessary due to a lack of operating funds.
The university had applied for a $12.5 million loan from the U.S. Department of Agriculture, but its application was denied.
Following the announcement, 110 faculty members and 550 full-time students were forced to change course and transfer to another university.
To help pay off some of the university’s outstanding debts, the school filed for Chapter 7 bankruptcy in February.
On Monday, St. Gregory’s University announced that it would be auctioning off several items related to the university.
Bidders will be able to purchase exercise equipment, restaurant equipment, televisions, computers, musical instruments and outdoor equipment.
In addition to those items, bidders will also be able to buy legal documents, Catholic and religious books, and ancient books and documents from 1400 to 1900.
St. Gregory’s University opened in 1875 and was the only Catholic university in Oklahoma.