CRN In Depth
In this weekly series, we dive into the biggest CRN story of the week with the fellow CRN reporter who covered that story. On Tuesday the unified communications vendor, Avaya Holdings Corp. officially filed for Chapter 11 bankruptcy protection [https://www.crn.com/news/networking/avaya-files-for-chapter-11-bankruptcy-after-cloud-subscription-accounting-woes] on Tuesday. It came as no surprise following Avaya’s 2022 cloud subscription accounting problems [https://www.crn.com/news/networking/new-ceo-alan-masarek-avaya-s-opportunity-for-future-success-is-stronger-than-its-past-performance-/3] which led to substantial earnings and revenue target misses. In its bankruptcy court filing [https://www.crn.com/news/networking/avaya-bankruptcy-filing-5-things-to-know?itc=rt-trending], Avaya lists total assets of between $1 billion and $10 billion and total liabilities of between the same range. The company lists its number of creditors as being between 25,001 and 50,000. This is the second time the company has filed for bankruptcy. Senior Editor Gina Narcisi covered the story is on this week’s episode [https://crntv.crn.com/detail/videos/crn-editorial/video/6320704516112/crn-in-depth:-avaya-files-for-bankruptcy-protection?autoStart=true].
6 episodios
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