According to a Thursday report from Reuters, Avaya has filed for Chapter 11 bankruptcy in an effort to curtail its debt load of about $6.3 billion.
The telecommunications company also serves as the official stadium naming rights partner of the Earthquakes.
The bankruptcy announcement caught few off guard, and came after the company failed to reach a deal in the sale of its call centers with buyout firm Clayton, Dubilier & Rice, which had reportedly been in the lead to acquire it for $4 billion. Avaya faced an end of January deadline to address its debt or potentially default to its creditors.