(Reuters) – A U.S. unit of Indian education technology startup Byju’s has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 billion.
Byju’s Alpha unit listed its assets in the range of $500 million to $1 billion, according to a court filing.
The startup has been roiled by setbacks, with the latest being a group of lenders initiating bankruptcy proceedings against it. It has also been negotiating the repayment of a $1.2 billion term loan in the last few months.
(Reporting by Kanjyik Ghosh; Editing by Arun Koyyur)
