Avaya filed for Chapter 11 protection late last week. Avaya said the move is intended to cut debt and interest expenses from a capital structure that dates back more than 10 years. In laymen’s terms, Chapter 11 gives Avaya some breathing space to work through its capital restructure – a move they flagged over six months ago.
Avaya’s doors will remain open while they work through this process. Access to their products, technical support and other normal business operations will remain unchanged.
Pyrios’ customers with Avaya technology can be reassured that, as a long standing Avaya partner, Pyrios has the technical expertise, spares holdings and continued access to Avaya’s resources to fully support them.
We are confident Avaya will come out of this process stronger and more competitive than ever. Their business fundamentals look healthy, with FY16 revenue surpassing $3.7 billion and adjusted EBITDA north of $900 million. Avaya has also made it clear that they will retain their contact centre assets as they restructure debt and sharpen their focus on software and services.
Avaya’s press release, a video message from Kevin Kennedy, Avaya’s CEO, and FAQson the filing are available on their website at avaya.com.