In 2002, the college announced it would be forced to close unless a $500,000 debt was repaid. In was reported at the time that the debt was attributed to financial mismanagement.

After the public plea was made, the Mount Isa community rallied behind the College and raised over $90,000 in one week.

A last minute lender also stepped in and offered assistance to allow the school to continue operating.

A spokesperson for MICC said yesterday that the school was still suffering financially.

“Mount Isa Christian College faced problems and almost closed several years ago,” the spokesperson said.

“There is still a significant residual debt from that period and this is one of the reasons why the decision to close was made. It is not viable to remain open beyond the end of the year.”