Telecoms company Avaya files for bankruptcy

Reuters News
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Posted: Jan 19, 2017 11:36 AM

WILMINGTON, Del (Reuters) - Telecommunications company Avaya Inc filed for Chapter 11 bankruptcy on Thursday to reduce its debt, but said it will not sell its call center business at this time.

The privately held Santa Clara, California-based company said it obtained a $725 million loan to fund its operations during the filing, which will be provided by an affiliate of Citigroup Inc.

(Reporting by Tom Hals in Wilmington, Delaware)