Cengage Comes to Terms with Creditors: Company clears $4 billion in debt

摘要

Academic software and services company Cengage Learning filed for Chapter 11 Bankruptcy protection on July 2, 2013, to restructure its $5.8 billion debt load. On February 3, the company announced a deal with its major creditors and stakeholders and a reorganization plan that executives say will mark the beginning of a path out of bankruptcy and back to financial health.