Textbook publisher Cengage Learning emerges from Chapter 11 bankruptcy; cut $4 billion in debt

0

STAMFORD, Conn. – Textbook publisher Cengage Learning Inc. said Tuesday that it has emerged from Chapter 11 bankruptcy protection after restructuring its finances.

The Stamford, Conn.-based company filed for bankruptcy protection in July with $5.8 billion in debt.

Cengage said it eliminated $4 billion in debt, has $1.75 billion in exit financing and overhauled parts of its business.

Leave a comment

Your email address will not be published. Required fields are marked *