Houghton Mifflin Harcourt files for bankruptcy
Houghton Mifflin Harcourt Publishing Co., the publisher of authors from Mark Twain to J.R.R. Tolkien, sought bankruptcy protection to eliminate more than $3 billion in debt. The company, based in Boston, listed assets and debt of more than $1 billion each in Chapter 11 documents filed today in US Bankruptcy Court in Manhattan. On May 11, Houghton announced a debt restructuring plan that would include a pre-packaged Chapter 11 bankruptcy.