Avaya considers filing for chapter 11 - report

Thursday 24 November 2016 | 08:43 CET | News
Avaya may file for chapter 11 bankruptcy protection and sell its call-center software unit in an effort to reduce its debt after years of losses. People familiar with the matter told the Wall Street Journal that the company wants to sell the call centre activities and then could file for chapter 11 as soon as next month. Clayton Dubilier & Rice is among the potential buyers that participated in the most-recent round of bidding for the unit, which could fetch around USD 4 billion. Avaya could use the proceeds of the sale to pay off debt, while other creditors could be offered equity for their

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Categories: Fixed
Companies: Avaya
Countries: World
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