Cengage emerges from Chapter 11 bankruptcy

AP News
Posted: Apr 01, 2014 10:32 AM

STAMFORD, Conn. (AP) — 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.