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General

Frontier mulls major reorganisation, including departure of CEO, filing for bankruptcy - report

Monday 11 November 2019 | 15:19 CET | News
Frontier Communications is in talks with advisors about its debt of USD 17.5 billion, Bloomberg reported, with sources saying creditors want Frontier to restructure and come out with a plan. This could include the company declaring itself bankrupt, a move which could take place in the first quarter of next year, before USD 300 million worth of interest becomes due in March, sources said. Some investors have argued that it would be better for the company to file for Chaper 11 sooner rather than later. The major restructuration plan would also include new management and a new CEO. Sources say

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Categories: General
Companies: Frontier Communications / WorldCom
Countries: United States
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