(Bloomberg) -Anthology Inc. Lay the foundation for a possible bankruptcy in Chapter 11 that would see that some secured lenders take control of the upset provider of education software, according to people who are familiar with the situation. The restructuring plan calls for an ad hoc group lenders – led by Nexus Capital Management – to exchange their debt for equity in a reorganized company, people said who asked not to be identified on a private matter. The private equity firm in Los Angeles has accumulated bundling debt over the past few months and has emerged as one of its biggest borrowers, some of the people said. A key component of the workout deals with the bundle that sells assets, the people said. Discussions continue and the plans can change, they said. The company is also in talks to receive a bankruptcy loan to help finance its operations during a Chapter 11 process, people said. “Anthology has made great progress over the past two years in improving our business and product capabilities and competitiveness,” a representative for the company said in ‘NE post statement, adding that’ any way forward will enable us to continue providing highly innovative solutions to our customers. ‘ The Veritas Capital-backed company has been considering selling itself for months, as it would cut an agreement with lenders to address its more than $ 1 billion in debt, Bloomberg reports before. Representatives of the Antology’s advisor PJT Partners Inc. and with Nexus refused to comment. Messages left with Veritas were not returned. Moody’s ratings cut off the collection of CAA3 in April, referring to the decline in new discussions and a higher as a expected customer result. The company cut the costs to compensate the pressure, the credit class said. The company combined with Blackboard Inc. in 2021. Anthology offers schools to learning management and software for students’ information management. (Updates with additional details on the plans’ plans to receive financing in the fourth paragraph) More stories like this are available on Bloomberg.com © 2025 Bloomberg LP
-
-
-
-
