Jacksonville, TX (FOX 51) — Lon Morris College is taking steps Wednesday to liquidate their assets.

According to a U.S. Bankruptcy Court spokesman, the school has been approved on an "application to employ" AmeriBid LLC, a company that would be expected to auction off their properties. The order to sell has not yet been approved.

More orders will be issued throughout the day, and a sell approval will most likely be approved by the end of the day. The spokesman tells KETK it is a complicated process that goes in steps.

KETK will bring you more information on this developing story as it becomes available.