Frontier Communications files for Chapter 11 bankruptcy
Frontier Communications, one of Tampa Bay’s two major cable and internet providers, filed for Chapter 11 bankruptcy Tuesday, according to a Wednesday filing with the Securities and Exchange Commission.
Filed in the Southern District of New York, the bankruptcy would restructure $10 billion of the company’s debt, a move it says will allow the company to move forward.
“With this agreement with our bondholders, we can now focus on executing our strategy to drive operational efficiencies and position our business for long-term growth,” CEO Bernie Han said in a release.
Frontier does not expect any interruptions to its service during this process, the company said.
Read more: https://www.tampabay.com/news/business/2020/04/15/frontier-communications-files-for-chapter-11-bankruptcy/
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