Avaya released a statement yesterday (August 7) stating that the company has filed an amended plan of reorganisation and disclosure statement, with the support of major stakeholders, representing an important milestone in the company’s restructuring process and gives a “clear and viable path to emerge from Chapter 11 in the near term.”
Fadi Hani, vice president for MEA at Avaya, said that while Avaya Inc. has been working through the Chapter 11 process in the US, the Middle East and Africa business has progressed strongly. “This agreement provides a clear and viable path to exit Chapter 11 in line with our strategy. This is an important milestone as we work to emerge as a strong and competitive company in the coming weeks.”
Hani further said. “Over the past two years, we have been vocal about the transformation of the Middle East and Africa business; we recognised the need to restructure in order to align to the demands of the regional market, to deliver the software and services that local organisations need, and ensure the success of our customers.”
“This transformation is proving positive – last year we reported that Avaya Middle East and Africa closed its fiscal 2016 with its strongest quarter in 12 quarters, and the business has continued to build from there. I am pleased to note this progress has continued, with the local business to date. We take great pride with the level of confidence and support that we continue seeing from our customers and partners in the Middle East and Africa.” Hani added.
