The company's its core content delivery business had revenue of $417 million in the second quarter, down 11%. Read More...
The Wall Street Journal
Avaya Taps Legal, Financial Advisers to Look at Debt Options
Avaya Holdings is working with legal and financial advisers to evaluate the company’s options following an earnings miss that tanked prices of a $600 million debt deal completed in June, according to people familiar with the matter. Avaya is being advised by law firm Kirkland & Ellis LLP and turnaround adviser AlixPartners LLP as the company contends with blowback from credit markets, these people said. The cloud-communications company said on Tuesday that there is substantial doubt on its ability to continue as a going concern in light of a debt maturity next year and third-quarter revenues that came in “substantially lower” than Avaya expected.
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