LINCOLN, Neb. (AP) — The holding company for Nebraska Book Co. has emerged from bankruptcy as a smaller company with less debt.

The company restructured $450 million in debt and sold off 56 of its off-campus college book stores.

Nebraska Bookstore emerges from bankruptcy with about $210 million debt and ownership of 250 stores. Its textbook division serves more than 2,500 bookstores.

Nebraska Bookstore will now be a privately held company, and its largest shareholder is Mast Capital of Boston. There are more than 15 other shareholders with a stake in the firm.