Reorganizations

(Reuters) - Houghton Mifflin Harcourt Publishers Inc, whose textbooks have been a staple in American schoolhouses for decades, filed for Chapter 11 bankruptcy protection on Monday after agreeing with creditors to eliminate $3.1 billion of debt. The "pre ...

May 21 (Reuters) - Houghton Mifflin Harcourt Publishers Inc, whose textbooks have been a staple in American schoolhouses for decades, filed for Chapter 11 bankruptcy protection on Monday after agreeing with creditors to eliminate $3.1 billion of ...

(Reuters) - Houghton Mifflin Harcourt Publishers Inc, whose textbooks have been a staple in American schoolhouses for decades, filed for Chapter 11 bankruptcy protection on Monday after agreeing with creditors to eliminate $3.1 billion of debt.

Textbook supplier Houghton Mifflin Harcourt Publishing Co. turned the page to Chapter 11 on Monday, filing for bankruptcy-court protection to implement a creditor-supported plan to eliminate more than $3 billion in debt from its balance sheet.

Houghton Mifflin Harcourt has officially filed a major restructuring plan to redistribute the company’s $3.1 billion in debt, entering what they called “a prompt, court-supervised, chapter 11 process.” The company predicts they will emerge from the ...