iLearningEngines, a company in AI-powered learning and work automation, voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware. The company will seek court approval to continue operating on a business-as-usual basis during the proceedings and intends to continue to provide support to its installed customer base that relies on its Applied AI platform to run their businesses.
“We appreciate the continued support of our customers, partners and employees, and our hope is that this process will put us in a better position to serve those stakeholders going forward, allowing for a stronger, more robust business over the long-term,” Tom Olivier, interim CEO for iLearningEngines, said. “Since taking over as Interim CEO on December 5, 2024, I have met with a number of our distribution partners and customers. We will continue to work closely with them as we work through this process.”
In coming days, the company will file certain customary motions seeking court approval to support its operations during the process, including the continued payment of employee wages and benefits as well as compensating vendors and suppliers under normal terms for goods and services provided on or after the filing dates.
Faegre Drinker Biddle & Reath is serving as legal advisor to iLearningEngines, and ICR is serving as the company’s strategic communications advisor.
