Internet telephony company Avaya considering bankruptcy

A Chapter 11 Bankruptcy is being considered as an option by multinational firm Avaya Inc., to possibly lessen their financial problems, an article in The Wall Street Journal reported on November 23.

Information coming from the people who have known about the issue revealed that Avaya may file for bankruptcy this coming December after securing a deal with a potential investor. Reports said Avaya’s long-term debt as of June is $6 billion and the bankruptcy filing will be considered to lessen it. The company reportedly had accumulated debts after experiencing losses for years. Part of the bankruptcy, Avaya would allow some other creditors to own shares for settlement. The sources also noted that a company is being anticipated to acquire Avaya in a bidding for $4 billion.

The Fayetteville attorneys of the Bradford Law Offices, PLLC work for business owners who have decided to file for bankruptcy to address their financial problems. If you are in such difficulty, we may offer you all the legal support you need to make sure you get the best deal in the process. Call our office today at (919) 758-8879 to learn more about your options.