Posted by: anitanolan | May 16, 2012

Houghton Mifflin Harcourt Enters Bankruptcy Process

This may sound bad, but a structured bankruptcy can give a company a chance to get a handle on debt and come out stronger.

From the New York Times:

Houghton Mifflin Harcourt, the educational and trade publisher in Boston, has agreed with most of its creditors to eliminate $3.1 billion of debt and enter a prearranged Chapter 11 bankruptcy process, the company said on Friday.

Read the rest here.

 

 

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