2U, Owner of edX Online Courses, Files Chapter 11 Bankruptcy.

2U, the owner of the edX online education platform, has filed for Chapter 11 bankruptcy. The company has entered into an agreement with its creditors to reduce its debt by over 50% and receive fresh capital. After the restructuring process, 2U expects to emerge as a private company backed by its existing lenders and noteholders. The company will continue its educational programs and services as normal during this time. [Extracted from the article]