"Tech Giants' Cash Crunch Sparks Violent Clash Among Creditors"
Originally Published 1 year ago — by Bloomberg
Despite the success of some tech companies, many are struggling with debt, leading to a situation where creditors are turning against each other in a bid to get repaid. Troubled tech firms like Alvaria Inc., GoTo Group Inc., and Rackspace Technology Inc. have agreed to restructuring deals that provide select lenders with better terms on debt swaps than others, leading to what is being called 'creditor-on-creditor violence.'