Reports reveal Avaya Holdings nearing Chapter 11 bankruptcy filing

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having trouble for Avaya Holdings Corporation., with reports indicating that it will soon file for bankruptcy protection.

According to Reuters, Wall Street Journal informed of yesterday that “the company is reaching for a Chapter 11 bankruptcy filing to reorganize its balance sheet, turn around its business and address past accounting problems.”

a reuters Article Said that the company was “in dialogue with its financial stakeholders regarding a comprehensive resolution to strengthen its balance sheet.”

Shares of the company fell to US$0.52 at the end of trading on Thursday, compared to a high of US$21.65 earlier this year. One Article The stock register indicated that Avaya’s shares had fallen 12.53 per cent from the previous day’s closing price.

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