Anthology Files for Chapter 11 Bankruptcy in Texas

Anthologyhas entered into a restructuring support agreement with lenders holding more than 87% of firm’s superpriority first out term loans and more than 68% of the superpriority second out term loans.

• Teaching & Learning business will be reorganized into a stand-alone business
  • All of firm’s debt will be eliminated
  • Co. will get at least $50 million of new cash investment to support continued investment in Teaching & Learning
• Enters into binding purchase pacts to implement divestitures of Enterprise Operations, Lifecycle Engagement, and Student Success businesses
  • Transaction is expected to be completed by early 2026
• Co. will undertake going concern ...