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Avaya files for chapter 11 in order to restructure debt

Friday 20 January 2017 | 08:52 CET | News
Avaya has filed for chapter 11 bankruptcy protection in the US while it restructures its debt. The company said it has been 10 years since it last overhauled its capital structure, and its business model has since changed to focus more on software and services rather than hardware. The company sought a buyer for its call centre activities prior to considering the debt restructuring, but said it did not find a suitable offer. It is considering other divestments though while it goes through the chapter 11 process, and has also agreed USD 725 million in debtor-in-possession financing to take it

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Categories: Fixed
Companies: Avaya
Countries: World
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