Internet telephony company Avaya considering bankruptcy

Posted on Monday, November 28th, 2016 at 3:56 pm    

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.

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