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 was waiting for payments from HMH, which was waiting until the debt restructuring went through.

Well, it’s gone through. Have you been paid, CCI freelancers?

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