Further to this morning’s story on a restructuring of Houghton Mifflin Harcourt parent company EMPG which is considered likely to wipe out existing equity holders, the company issued this statement: “We are in advanced discussions regarding a comprehensive, consensual balance sheet restructuring. A substantial majority of the company’s most significant lenders have already agreed to the framework for this restructuring plan, which will put the company on a stronger financial footing for the future. “Moreover, certain of our lenders have committed to make substantial new investments in the company in connection with this restructuring. Significantly, the plan will enhance liquidity […]
