The Tortured History of HMH

Born under a mountain of debt in late 2007, Houghton Mifflin Harcourt forced its executives to spend as much time finding ways to keep the company financially afloat as publishing educational materials and trade and reference books. That is one reason why when HMH filed for Chapter 11 protection May 21 as part of its prepackaged bankruptcy process, the company, with sales in 2011 of $1.295 billion and adjusted EBITDA of $238 million, was roughly the same size as Houghton Mifflin in 2005 when it had sales of $1.28 billion. Continue reading at 'Publishers Weekly'

[ Publishers Weekly | 2012-05-25 00:00:00 UTC ]
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