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Last week we reported that Mitel Networks was preparing to file for Chapter 11. Now the telecom company announces that it ...

Unified communications specialist Mitel is entering Chapter 11 bankruptcy protection as it has struggled to keep its footing ...

The Ottawa-based company says it is seeking Chapter 11 relief in U.S. Bankruptcy Court for the Southern District of Texas.

The restructuring plan would reduce Mitel’s debt by $1.15 billion, while resolving a dispute over a debt transaction that favored one group of creditors over another.