Ex-Princeton Review Owner Seeks Ch. 11 To Restructure Debt

Law360, Wilmington (January 22, 2013, 2:09 PM EST) -- Education Holdings 1 Inc. — formerly Princeton Review Inc. before selling its test preparation business last year — filed for bankruptcy in Delaware on Monday with a plan in hand to restructure over $150 million in debt.

The Framingham, Mass.-based holding company listed both assets and debt between $100 million and $500 million in its bankruptcy petition, which comes a month after the company agreed to pay $10 million to settle an employee whistleblower suit alleging it defrauded the government through an after-school tutoring program for...
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