Owner of edX Online Courses 2U Files Chapter 11 Bankruptcy (2)

2U Inc., the publicly traded owner of the edX online education platform, has filed for bankruptcy with a creditor-backed deal that will take the business private.

Lanham, Maryland-based 2U filed for Chapter 11 in New York bankruptcy court, listing assets and liabilities of at least $1 billion each. 2U has about $945 million in long-term debt, according to court documents.

The company has entered into an agreement with creditors to cut its debt by more than 50%, reducing the amount to about $459 million, it said in a separate statement. As part of the deal, it will get ...