Mitel Networks, a Canadian telecommunications company, has filed for Chapter 11 bankruptcy in the Southern District of Texas. Court documents list its assets and liabilities between US$1 billion and US$10 billion.

The company provides business phones and call center services, competing with firms like Cisco and Avaya. In 2023, it reported a user base of 75 million.

Mitel was acquired by Searchlight Capital Partners in 2018 for US$2 billion to enhance its cloud services but continued to face financial struggles.

In November 2022, it attempted an “up-tiering” transaction to improve liquidity, but analysts noted that core business issues remained.

The bankruptcy filing marks a major challenge as the company works on restructuring.