#5: Avaya Files for Chapter 11 Bankruptcy, 2nd Time in 6 Years
Just five years after emerging from Chapter 11, Avaya, the cloud communications collaboration provider, is back under bankruptcy protection.
Avaya hopes to reduce its debt by more than 75% by making this move. The question, of course, will be if it can maintain the trust of customers and partners during this time of difficulty.
One analyst we spoke with raised “substantial doubt about the company’s ability to continue.” But after hiring former Vonage CEO Alan Masarek last year, Avaya expressed confidence in its ability to rebound.
Time will tell. In the meantime, read our full story on Avaya’s struggles.
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