Fusion has officially emerged from Chapter 11 bankruptcy protection, successfully completing its financial restructuring process and implementing its reorganization plan which was cleared by the U.S. Bankruptcy Court for the Southern District of New York back in December.
Approximately $400 million of the company’s debt was eliminated in the reorganization. In addition, Fusion received a $115 million exit financing loan.
We caught up with Fusion SVP of Channels Michael Fair to learn more information about what this announcement means for the company.
ChannelVision: Please talk about what this announcement means for Fusion.
Michael Fair: We emerged as a much stronger company, with substantially less debt and a sustainable capital structure that supports our future growth plans. We’re now well positioned to continue delivering our comprehensive and compelling portfolio of Single Source communications solutions, including UCaaS, SD-WAN and security, now and well into the future.
CV: What happens next?
MF: We’re kicking off this next chapter in the Fusion story on a solid foundation, and we now have a unique opportunity to carry our momentum forward and strengthen our relationships to continue driving our growth.
As we’ve communicated from the start, we’ll continue to build on our valued partner and customer relationships, investing in initiatives designed to make it easier than ever before to do business with Fusion.
CV: What can we expect from Fusion once the dust settles? Why will 2020 be a great year for the company?
MF: To start, we’ll be implementing systems improvements throughout 2020 that will allow us to install, maintain, grow, and support our customers across all product lines.
To complement this effort, we’re also simplifying our processes and procedures to make our products even easier to use than before. In the coming year, all of our Single Source solutions will move onto a single portal to create an integrated, more efficient system. We’re also excited to introduce new targeted incentives to encourage our channel partners to expand the solutions they introduce and sell to Fusion customers.
CV: Is the channel still a core focus for the company?
MF: As always, Fusion’s success depends on the success of our outstanding channel partners, whose loyalty and confidence in us throughout the process has been so important to our progress and ultimately, our successful emergence.
We continue to explore new and improved ways for us to create value for our partners as we continue to sell, compete and grow together.