Modelling A.I. in Economics

Cyxtera Files for Bankruptcy, Citing Rising Costs and Increased Competition

Cyxtera Technologies Inc., a data-center operator that was spun off from CenturyLink Inc. in 2017, filed for bankruptcy protection on Sunday. The company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of New Jersey.

Cyxtera said it has $1.4 billion in debt and assets of $1.2 billion. The company said it expects to emerge from bankruptcy within six months.

Cyxtera's bankruptcy filing comes as the data-center industry faces a number of challenges, including rising costs and increased competition. The company said it was unable to reach an agreement with its lenders on a restructuring plan, which led to the bankruptcy filing.

Cyxtera operates more than 60 data centers around the world. The company's customers include businesses of all sizes, as well as government agencies.

The bankruptcy filing is a major setback for Cyxtera. The company had been hoping to grow its business and become a leading player in the data-center industry. However, the bankruptcy filing will likely make it difficult for Cyxtera to achieve its goals.

The bankruptcy filing is also a sign of the challenges facing the data-center industry. The industry is facing a number of headwinds, including rising costs and increased competition. As a result, some data-center operators are struggling to remain profitable.

The bankruptcy filing by Cyxtera is a reminder of the risks facing the data-center industry. The industry is undergoing a period of rapid change, and companies that are unable to adapt to the changes are at risk of failure.

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