Two months after reaching an agreement with its primary creditors and investors, Cengage announced it has completed its financial restructuring, which eliminated $4 billion of its $5.8 billion total debt, and has emerged from Chapter 11 bankruptcy. The remaining debt — which is slightly less than the company’s annual sales of approximately $2 billion — will be addressed in a new round of financing. Though headquartered in Stamford, CT, Cengage has relocated its management team to a Boston office and ceo Michael Hansen tells the Boston Globe they intend to employ about 500 people in the area by the end […]
