Online education platform 2U (NASDAQ:TWOU) has filed for Chapter 11 bankruptcy. Based in Maryland, the firm was saddled with $1 billion of debt as of the end of the first quarter while it had just$125 million of cash. TWOU stock is tumbling about 70% on the news. 2U's Profile and Its Bankruptcy Deal 2U specializes in partnering with American colleges to provide online courses. In recent years, the company has faced mounting competition from many colleges that have decided to offer online courses without pa ...