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C Street Advisory Group is handling strategic communications for 2U Inc. as the pioneer in the online education space declares Chapter 11.
The Wall Street Journal noted that Lanham, MD-based 2U made its mark by working with Georgetown, USC and the University of North Carolina at Chapel Hill to create and operate courses in fields such as nursing and social work.
The financial restructuring slashes more than 50 percent of 2U’s debt.
Paul Lalljie, 2U CEO, called the reorganization an important milestone, which creates a healthier balance sheet and sets the stage for future growth.
“The steps we are taking today will enable us to continue investing in our offerings, services and world-class team to deliver unparalleled online learning to meet the needs of students today,” he said.
2U expects to emerge from Chapter 11 by the end of September.
C Street Advisory is the firm founded by Jon Henes, who was national finance chair of vice president Kamala Harris’ 2020 presidential campaign.
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