Frontier, an ISP in 29 States, Plans to File for Bankruptcy
Arthur T Knackerbracket has found the following story:
Frontier Communications is planning to file for bankruptcy within two months, Bloomberg reported last week.
The telco "is asking creditors to help craft a turnaround deal that includes filing for bankruptcy by the middle of March, according to people with knowledge of the matter," Bloomberg wrote.
Frontier CEO Bernie Han and other company executives "met with creditors and advisers Thursday and told them the company wants to negotiate a pre-packaged agreement before $356 million of debt payments come due March 15," the report said. The move would likely involve Chapter 11 bankruptcy to let Frontier "keep operating without interruption of telephone and broadband service to its customers."
Frontier reported having $16.3 billion in long-term debt as of September 30, 2019.
-- submitted from IRC
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