#5: GTT Leaves Chapter 11
GTT Communications, the managed network services provider, emerged from chapter 11 bankruptcy protection at the beginning of the year with eyes on a bigger and better 2023.
GTT was able to cut $2.8 billion off its debt during the period and bring in some new investors. The whole process took 15 months.
To get out of the red, the company solid its infrastructure division to I Squared Capital for $2.1 billion, ultimately reducing its debt by 80%.
Read more about what GTT is predicting for its future.
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