The special master appointed by a state court in December to find a buyer for Myers University, in Cleveland, appears to have found a proper suitor.
According to The Plain Dealer, an entity from outside of Ohio known only as Myers Education LLC has signed a letter of intent to buy the 160-year-old institution. The buyer, whose identity is being withheld while it examines the institution’s financial records, has said it would keep the college’s existing academic programs, but has made no similar promises about its employees, the newspaper reported.
The buyer has also said it would pay off some of the college’s debt and invest an additional $5-million over time. —Goldie Blumenstyk