WIY- did you read the news from the other day? The latest closure was due to owing 2 years in back rent, and it was a fairly large school. You’d also be surprised at how many places that shouldn’t carry a mortgage still have a hefty one. Unless the school has been in current location and building for a few decades, chances are, there is a large mortgage. If they’re in a fairly new building, forget it, they’re definitely still paying for it.
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