Troubled Charter school turns to bankruptcy



The Press-Enterprise
CORONA

Leaders of a struggling charter school said Friday they will file for bankruptcy to try saving the program for home-schooled families.

Four months after opening, the California Hope Charter Academy has not received any state money and has barely met its payroll.

The Corona-based school's bankruptcy, which could occur in days, would be the first by a charter school in California, charter experts said.

Despite the expected filing, academy officials hope classes will continue during the six months of bankruptcy protection. But teachers may have to work without a guarantee they would get paid.

Financial problems worsened in December when state education officials decided to withhold about $300,000 from the school because of concerns over its attendance record keeping.

Though the academy found loans from several supporters, Director Michael Scott said the school with about 200 Inland area students has reached a crisis. "We just cannot get our money, we have tried to meet every requirement," Scott said. "... We can't keep going like this."

 

Published 1/27/2001