Houghton Mifflin Emerges from Bankruptcy

Houghton Mifflin Harcourt has reportedly emerged from bankruptcy protection. According to reports, the business emerged as a judge approved a deal with the company’s creditors to eliminate $3.1 billion in debt. The business originally filed for Chapter 11 bankruptcy protection in May with the support of more than 70 percent of its creditors. Now, with the restructuring, the creditors have exchanged their debt holdings for ownership stakes in the company.

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