10 months ago, Avaya filed for chapter 11 protection kicking off the largest bankruptcy event in the history of the call center industry. Avaya faced a tough challenge to reach a restructuring agreement with their many debt holders, and to have it done quickly in order to minimize the damage to the brand, and the slow bleed of customers to competitors. Most of the process happened out of the public view, but in the last month, three announcements have revealed the status.
It looks like Avaya met their challenge successfully and will be exiting bankruptcy soon. More importantly, they managed to shake off a large portion of their debt, and set their sights on an IPO in early 2018.