It experienced significant financial difficulties during the last years of its existence, was denied accreditation in 2013, and announced its closure on May 20, 2014.

After years of being shuttered and a failed attempt to reopen a business college, the campus suffered a devastating fire in the early morning hours of Friday, December 20, 2024, that resulted in the complete loss of the original core buildings.

Instructing both boarding and day students, the school steadily grew until it outgrew its facilities in less than ten years.

The college began moving to a new site in Bristol, Virginia, in 1891, completing its relocation with the beginning of classes on September 14, 1893.

In July 2010, the college hired its first female president, Dr. E. Clorisa Phillips, who came to VI following 30 years in administration at the University of Virginia.

In January 2014, faced with declining enrollment, the college announced plans to merge with Webber International University in Babson Park, Florida,[7] but this measure failed in April.

[8] On May 4, 2014, faculty president, Dr. Robert Rainwater announced during the 2014 graduation ceremony, that VI would close its doors after 130 years of education in the community.

The board of trustees placed the day-to-day leadership of the college with Compass Executives of Nashville with Art Rebrovick serving as interim president and restructuring agent.

[12] Bluefield College expressed interest in purchasing the property, but backed out when inspections indicated there was $20 million in deferred maintenance to the buildings.

Timber joists, floors, and a lack of functioning sprinkler system contributed to the spread.

Virginia Intermont's accreditation was reaffirmed in early December 2011, but the college was issued a one-year warning for not meeting the agency's financial standards.

[17] The college appealed and won a temporary court injunction to retain its accreditation albeit in a probationary status.

The original structure, which only consists of the main hall today, was added to the National Register of Historic Places on October 4, 1984.

[19] The first major addition to the school was in the early 1920s when Hodges Hall and the current president's home were constructed.