HMH Restructures Debt; Good News For HMH Employees, Bad? News For Some Freelancers
Houghton Mifflin Harcourt’s parent company has restructured its debt to avoid “any risk” of bankruptcy, according to Bookseller and our sister blog GalleyCat.
The refinancing will reduce the company’s debt load by more than one billion dollars, and undoubtedly save some jobs at HMH.
Why is this bad news for some freelancers? Because those who worked for book packager Curriculum Concepts International (CCI), which counts HMH as one of its clients, haven’t been paid since February.
Rumor was that CCI
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in