SANTA CLARA — Avaya, a struggling communications tech company whose name is on the home stadium of the San Jose Earthquakes soccer club, has filed for Chapter 11 bankruptcy protection.
The company listed $5.5 billion in assets and $6.3 billion in debts, according to the bankruptcy case, which was filed in New York City.
“We have conducted an extensive review of alternatives to address Avaya’s capital structure, and we believe pursuing a restructuring through chapter 11 is the best path forward at this time,” said Kevin Kennedy, Avaya’s chief executive officer.