Avaya Filed for Bankruptcy Thursday January 19.

skidv writes: I was surprised to discover that the US Subsidiary of Avaya, spun off from Lucent in 2000, has filed for Chapter 11 reorganization of their debt.

ZDNet breaks down the deal in part:

Avaya noted that its foreign affiliates aren't included in the filing and will operate as normal. Avaya said the $725 million in debtor-in-possession financing, via Citibank, is enough to minimize disruption and continue business operations.

Not surprising, Avaya has canceled the planned IPO.