AMERICAS DISTRESS DAILY: Anthology Files Bankruptcy to Cut Debt

Anthology Inc. has filed for Chapter 11 bankruptcy protection in the US after a failed attempt to sell the company or parts of the business outside of court protection. Anthology plans to focus on its core teaching and learning business, which will be recapitalized with at least $50 million in new cash and its debt completely written off.

• Ellucian Company LLC and Encoura LLC are the stalking horse bidders for Anthology’s enterprise operations and life cycle engagement businesses, respectively.
• Software companies have recently been struggling and often collapsing under the weight of debt used to fund their dealmaking, with higher ...