Cengage Learning, Inc., a leading global educational content, technology and services company for the higher education and K-12, professional and library markets, announced today that it has emerged from Chapter 11, having completed its financial restructuring. With approximately 550 employees in its Farmington Hills, MI office, Cengage Learning is poised to transform learning through innovation.
“We have used the restructuring process to significantly reduce debt and associated costs, and substantially improve our capital structure while continuing to meet the educational and research needs of our customers and end-users,” said Michael Hansen, Chief Executive Officer of Cengage Learning. “I am pleased to say that today we are well positioned in the global marketplace to deliver the best content, digital solutions and personalized services in education and research.”
As a global education leader, Cengage Learning is firmly focused on making a major impact by transforming learning. With key recent strategic hires, a strong leadership team and a healthy financial foundation, the company has the capability to grow for the future and execute on plans to further enhance customer relationships. Cengage Learning will be introducing more innovative digital and print products and services informed by the specific needs of customers and users.