Frontier Tells Creditors It Seeks a March Bankruptcy
Frontier Communications, the provider of telecom services in 29 states, is asking creditors to help craft a turnaround deal that includes filing for bankruptcy by the middle of March. Company executives including Bernie Han, Frontier’s new chief executive officer, met with creditors and advisers and told them the company wants to negotiate a pre-packaged agreement before $356 million of debt payments come due March 15. Frontier has been in talks with advisers about possible solutions to its $17.5 billion debt load, which has become a heavy burden as people stop using landlines.
A Frontier bankruptcy would rank as one of the biggest telecom reorganizations since Worldcom in 2002.
Frontier Tells Creditors It Seeks a March Bankruptcy Frontier Bankruptcy Reportedly Planned for Mid-March (telecompetitor) Frontier, an ISP in 29 states, plans to file for bankruptcy (Ars Technica)