Colocation provider Cyxtera Technologies has filed for Chapter 11 bankruptcy after spending the last few months trying to find a buyer or reduce its debt load. The company will now attempt to restructure through bankruptcy, or perhaps a suitor will come along to buy out the company.
“Cyxtera expects to use the Chapter 11 process to strengthen the Company’s financial position, meaningfully deleverage its balance sheet and facilitate the business’s long-term success,” the company said in a statement.
Cyxtera is not exactly a small fry. It reported $746 million…
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