AMERICAS DISTRESS DAILY: edX Owner 2U Files for Bankruptcy

2U, the publicly traded owner of the edX online education platform, has filed bankruptcy.

Lanham, Maryland-based 2U filed Chapter 11 in the Southern District of New York court, listing assets and liabilities of at least $1 billion to $10 billion.

The company has entered into an agreement with creditors to cut 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 about $110 million of fresh capital, it said.

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