Educational technology firm Anthology Inc. has filed for Chapter 11 bankruptcy protection in a Texas court, weighed down by more than $1 billion in debt. The move, announced late Monday, positions the company for a sweeping recapitalization strategy as it seeks to reset its financial foundation and reemerge debt-free. A Balance Sheet ResetIn its declaration, Anthology revealed it holds between $1 billion and $10 billion in both assets and liabilities. The filing outlines plans to fortify the company’s balance sheet through a stand-alone recapitalization, which would wipe away debt and provide a fresh slate for its education software business. Looking AheadThe bankruptcy filing signals both a crisis and a turning point for Anthology.