Data Center Operator Cyxtera Technologies Files for Bankruptcy

Cyxtera Technologies Inc. filed for Chapter 11 bankruptcy after its top lenders gave the struggling data-center operator scope to do so.

Publicly traded Cyxtera listed both assets and liabilities in the range of $1 billion and $10 billion, with more than 5,000 creditors, in a petition filed in New Jersey. It estimates to have funds for distribution to unsecured creditors

The move comes after striking a restructuring support agreement with lenders that owned more than two-thirds of a senior term loan maturing in 2024. The lenders agreed in early May to provide $50 million in new financing as part of ...