New York Military Academy, a 126-year-old preparatory school that counts billionaire Donald Trump among its graduates, faces the prospect of shutting its doors for good unless it can complete a deal to avoid a bankruptcy auction later this month, Reuters reported yesterday. Even though the heavily indebted school failed to open for the fall term, some of its faculty members are holding out hope for the school, located in Cornwall, N.Y., near the U.S. Military Academy at West Point. In recent years, it has fallen victim to the declining popularity of military-oriented secondary education in the United States. The school owes between $10 million and $12 million to creditors, its lawyer Lewis Wrobel told Reuters.
