Delaware Art Museum

delaware art museum

WILMINGTON, Del. (AP) - The Delaware Art Museum says its $19.8 million bond debt is set to be paid off.

The board of trustees said Wednesday that the debt, issued in 2003 to pay for the museum's expansion, will be paid on Tuesday.

The trustees voted in March to sell up to four works of art to pay the debt. The News Journal of Wilmington reports that the sale of two works, plus funds from the museum's investment portfolio, helped make the debt payoff possible.

The museum has one of the most significant pre-Raphaelite collections outside of the United Kingdom.

Delaware Art Museum

WILMINGTON, Del. (AP) - The Delaware Art Museum in Wilmington has lost its national accreditation and may not be able to borrow artwork from other museums after it began selling paintings to pay debts.

The American Alliance of Museums said Wednesday that collections cannot be treated as disposable assets.

The alliance says its accrediting commission voted unanimously to revoke the museum's accreditation. The group says the museum's actions violate museum standards and ethics.