- Avaya Holdings. ( NYSE: AVYA ) has had discussions with lenders over a plan that would give them control in a potential bankruptcy filing.
- A Chapter 11 filing could could come as soon as the end of the month, according to a Bloomberg report from late Thursday, which cited people familiar. The telecommunications company has been in talks with first-lien lenders including Apollo Global ( APO ), Ares Management ( ARES ) and Invesco ( IVZ ).
- The report comes after the WSJ said last month that Avya ( AVYA ) was nearing a chapter 11 bankruptcy filing to help its balance sheet.
- Avaya ( AVYA ) last month said it was having "constructive" discussions with its financial stakeholders regarding a resolution to its balance sheet issues.
- Avaya ( AVYA ) short interest is 20%.
For further details see:
Avaya talks with lenders over potential near-term bankruptcy filing - report