Bit barn biz Cyxtera files for Chapter 11, hopes to bounce back after reboot
, including a sale, and was working with advisors to decide on the best way forward after reporting a net loss of $257.9 million for the previous year.
Cyxtera announced in May it had received $50 million in new financing from lenders that hold over two-thirds of its outstanding term loan, in exchange for which it agreed to enter into a Restructuring Support Agreement aimed at ensuring the company's longer-term viability.
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