Clare College announces bankruptcy

The college buildings which date from 1638 may be sold to pay off debts.

N.B. April Fools!! This website was created to amuse a few friends. It is NOT an official BBC joke (as claim the Tab) and it does not reflect any event at Clare, a wonderful college on a sound financial footing.One of the oldest colleges in Cambridge has announced bankruptcy following the global recession.

Clare College last year made the news, revealing that it had taken out a £15m loan order to invest in the stock market. This gamble appears not to have paid off for the institution whose alumni include David Attenborough and Siegfried Sassoon.

"We are currently in negotiations with other colleges, and hope to secure Clare's future with a merger," said college representative Tony Badger in a press conference.

It is believed that Trinity College, which last year bought the O2 Arena, may consider purchasing the college to expand its student accomodation.

"We are urging the University to announce contingency measures for the students of Clare" said Tom Chigbo, the president of the student union. A representative from Trinity could not be reached for comment.

If a a merger falls through property firms have expressed interest in purchasing the college land to turn it into luxury flats in the heart of Cambridge.

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