Back in the Game: Avaya Survives Chapter 11 Bankruptcy
Avaya's plan for Chapter 11 exit is approved
The telecommunications world is in a period of excitement once again, following the news that Avaya will now be emerging from Chapter 11 bankruptcy fitter and stronger than ever before. The news broke when the courts in New York confirmed that they would sign off on Avaya’s third restructuring plan, allowing them to jump back into the market as an official public company, free from a great deal of their original debt.
With spirits high throughout Avaya, and the chatter on social media rising, I reached out to Ioan MacRae, the UK Managing Director for the company, to find out how the British side of operations has responded to the result of this week’s court hearing.
How Does the UK Team Feel About the News?
There was a sense of overwhelming joy in the atmosphere when I began speaking to Ioan MacRae about the latest Avaya news. When I first spoke to Ioan about Avaya’s decision to enter Chapter 11, he told me that the team would be focusing heavily on three key areas: the Avaya team, the partners, and of course the customers. Throughout the year, Ioan and his employees have been very effective at keeping everyone calm and confident on the road to exiting bankruptcy.
“I think over the last ten months, our focus on our customers, partners, and employees has helped us to ensure that our relationships stayed strong as a brand. In fact, we’re exiting Chapter 11 with better bonds than ever. When the news broke, we saw all three groups celebrating. It’s been fantastic to see such an outpouring of support across social media, email, and even text.”
How Has Avaya Changed This Year?
Avaya has long been a large and imposing company in the telecommunications space, but the journey through Chapter 11 seems to have given the brand more of a soul, as they attempted to create stronger connections with their partners, and customers. Ioan told me that the company has been through something of a transformation:
“Avaya is well known in the market, and it’s clearly a strong brand, but in 2017, our team started to work even more closely with our partners, and our wider marketing team has been innovating more than ever. I think it feels like we’re a different company than we were a year ago, and I think we’re perceived differently in the marketplace too.”
For Avaya, the latest news is confirmation that they will be leaving 2017 fitter and stronger than ever. Not only do they have a healthier debt and balance sheet to manage when it comes to making new investments and acquisitions, but their team is significantly stronger too.
“I think a lot of our competitors have been asking their customers why they would go with Avaya while we were in Chapter 11. That meant my sales team had to really get to know their customers much better. We’ve developed deeper bonds with the people we serve, and that means that we can now provide for them better than we did in the past.”
What Do You Predict for Next Year?
As the new Avaya is prepped to emerge for 2018, I was keen to know how the UK team plan to expand and innovate in the years ahead. Ioan told me that the Guildford office has already been refurbished, and their briefing centres are being enhanced too, with a greater focus on hosting partners and customers.
“There’s a new feel, and a new look for everyone on the team.”
Of course, the focus for Avaya’s UK branch will be continuing to deliver on the same strong connections they’ve been developing with their customers in the past year.
“Cloud is still key, and there’s a lot going on there with our partners and customers. We’re also continuing to concentrate on launching our portfolio in a strategic way. It’s about re-entering the market strong, and taking hold of opportunities for growth.”
The fact that Avaya has managed to go into Chapter 11, list as a public company, and re-emerge from bankruptcy within 10 months is a testament to the strength of the brand and the people behind it. Ioan assured me that the brand would keep UC Today up to date about what we can expect from them in the year ahead.
More on the Avaya Chapter 11 journey:
- Avaya Gets the Go-Ahead for an Official Exit from Chapter 11
- Avaya Exit Chapter 11 – A Happy Day in Comms
- Following Avaya’s Rise Out of Chapter 11
- Avaya One Step Closer to Exiting Chapter 11
- Avaya Files for an Exclusivity Extension on Their Chapter 11 Bankruptcy
- The Latest on Avaya’s Emergence from Chapter 11 Bankruptcy
- Avaya’s Third Quarter Financial Results: All the Crucial Numbers
- Avaya’s Latest News from a UK Perspective: UC Today Exclusive
- What next for the new Avaya? UC Today Exclusive
- Avaya Files a Plan with Bankruptcy Court
- Avaya Slammed for Bankruptcy Bonus Plans
- Avaya Update: After Chapter 11 What will Happen to Avaya in the UK?
- Avaya Seeks $3.7 Million for Executive Bonuses During Bankruptcy
- Avaya Networking Sell Off Approved By Bankruptcy Court
- Avaya Could Emerge From Bankruptcy By Summer
- Could Avaya’s Debt be Too Much to Handle?
- Avaya enters Chapter 11 – a very sad day in Comms