After receiving court approval for its restructuring plan last Thursday, Houghton Mifflin Harcourt announced late Friday that it had completed its financial restructuring and emerged from its Chapter 11. “We have achieved our financial restructuring objectives and moved through this process quickly and successfully. Now we have emerged with significantly less debt, a much improved balance sheet and capital structure and the financial strength to invest in new products and innovative digital education solutions to grow our business for the benefit of our customers,” said Linda K. Zecher, HMH president and CEO.
HMH filed for Chapter 11 May 21 to restructure debt of $3 billion.
