Liquidation

Struggling to pay the mortgage on its dorms, Lon Morris College in Texas never tried to dip into its $11 million pool of endowment money that supported the 158-year-old United Methodist-affiliated school.

But in the hunt for money after the school’s collapse, its bankruptcy attorneys want the charitable funds to pay its final bills—an unlikely wish for those who donated to the endowments in their wills and family trusts.

Hostess Brands Inc. said it received a “flood” of interest for its brands and assets since announcing its liquidation.