Tag Archives: bankruptcy

Ma Bell Great-Grandchild Avaya Files For Bankruptcy

Burdened by debt since its private equity buyout a decade ago, Avaya has filed for Chapter 11 bankruptcy.  The telecommunications software and hardware company posted a loss of $750 million for its most recent fiscal year. It is burdened by $6.3 billion in debt and $400 million in annual interest expense. “Avaya’s current capital structure is over 10… Read More »

DuPont Stops Sticking To Teflon, Sets July 1 For Debt-Laden, Litigation-Challenged Chemours Spin

DuPont(DD) has not been lacking in drama, with a famously noisy battle with activist Nelson Peltz.  The company is now in the final stretch of its spinoff of Chemours, with a date and ratio set.  The stock will be distributed on July 1 to shareholders as of June 23. Shareholders will receive one share of Chemours for every… Read More »