(OnFocus) Frontier Communications is reportedly considering filing for bankruptcy by mid-March.
Bloomberg reported last week that, in a private meeting, new CEO Bernie Han informed creditors and advisors that Frontier wanted to negotiate a pre-packaged agreement before March 15, when debt payments of $365 million come due.
In its third quarter, the company reported a net loss of $345 million with its revenue decline “driven by customer losses.” Its debt load is $17.5 billion, Bloomberg reported.
The company said in a statement that it was focused on reducing debt and interest expense, and that customers should expect no changes.
Frontier offers communications services to 29 states, including Wisconsin.
Author: News Desk
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