Houghton Mifflin Harcourt

摘要: One of the leading publishers textbooks and other educational materials for U.S. K-12 instruction market has suffered a dramatic decline in sales profits wake 2008-2009 financial crisis economic recession is now overburdened with debt. To regain its competitiveness, company to significantly reduce debt by billions dollars. Company management trying decide which several options best achieving this goal, including filing Chapter 11 bankruptcy, restructuring out-of-court, or "pre-packaged" bankruptcy.Learning Objective: Understand tradeoff between legal bankruptcy reorganzation out-of-court restructuring.