Avaya files for bankruptcy, about 5 years after emerging from previous bankruptcy

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Avaya files for bankruptcy, about 5 years after emerging from previous bankruptcy
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Avaya Holdings Corp. said Tuesday that it and all of its U.S. subsidiaries filed for bankruptcy, a little more than five years after emerging from its...

Avaya Holdings Corp. said Tuesday that it and all of its U.S. subsidiaries filed for bankruptcy, a little more than five years after emerging from its previous bankruptcy. The business communication company said it entered a financial restructuring agreement that will reduce its debt by more than 75%, from $3.4 billion to about $800 million.

said Tuesday that it and all of its U.S. subsidiaries filed for bankruptcy, a little more than five years after emerging from its previous bankruptcy. The business communication company said it entered a financial restructuring agreement that will reduce its debt by more than 75%, from $3.4 billion to about $800 million. The company said it has secured about $780 million in financing, including $628 million in debtor-in-possession financing, that will allow it to operate its business as usual.

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