The New York Military Academy was founded in 1889 and has fostered such graduates like Donald Trump, Stephen Sondheim, Francis Ford Coppola and many more. However, The New York Times reported that the school had been having trouble with enrollment, and those difficulties resulted in the academy having to declare Chapter 11 Bankruptcy in March. The news source continued by writing that the NYMA did not open to students in September, as it had promised.
Soon after, it went up for sale at a bankruptcy auction. The academy was purchased by Research Center on Natural Conservation, a Chinese-owned nonprofit company. The organization paid about $16 million for the 113-acre property.
Many of the instructors and heads of the school were pleased with the purchase, as it meant their institution was saved from closure. They did not seem upset by the military academy, which has produced many officers and soldiers over the years, going under the control of foreign investors.
The Research Center on Natural Conservation has stated that it intends to reopen the school to students soon and may even invite Chinese students to the U.S. to study on the campus.