By The VAR Guy Telecommunications company Avaya, which has been fighting to keep its head above water under the weight of a $6 billion debt load, on Thursday gave up the battle and filed for Chapter 11 as part of its attempt to "restructure its balance sheet. Last year, the company tried to alleviate some of that debt by selling its call center business to buyout firm Clayton, Dubilier & Rice, but couldn't reach a deal. It said it would not be selling the group as part of the bankruptcy filing, though it's negotiating deals to sell other business units. Avaya is choosing instead to focus on restructuring the company's debt, and has obtained a $725 million debtor-in-possession financing facility underwritten by Citibank. It expects this DIP, along with the cash from its operations, to provide enough liquidity to float existing operations.