Cengage Learning appears poised to emerge from bankruptcy after the academic publisher's plan of reorganization on Thursday received court approval. The plan, supported by all of Cengage's major stakeholders, eliminates about $4 billion of the company's debt, and secures Cengage $1.75 billion in exit funding. In a press release, the company said the plan is likely to take effect in the coming weeks. Cengage filed for bankruptcy protection last July.
- Cengage Learning emerges from bankruptcy with focus on digital growth
- Quick Takes: Eastern Ky. and LeTourneau Try 4-Day Work Weeks, Textbook Antitrust Concerns, Madison's Next Chancellor, New Fight on Immigration Status, Randolph Sells Painting for $7.2M, Oxford's Push for Pounds
- University that went bankrupt amid tighter federal scrutiny looks to collect money from former students
- For-profit chain works with feds on phase-out plan
- Major for-profit chain faces bankruptcy as feds turn up heat
Search for Jobs
Popular Job Categories