Frontier Communications Corporation is reportedly asking creditors to help craft a turnaround deal that includes filing for bankruptcy by the middle of March 2020. Frontier offers their telephone and internet service in 29 states, including in Tennessee and in the listening area.
Company executives including Bernie Han, Frontier’s new chief executive officer, met with creditors and advisers last Thursday and told them the company wants to negotiate a pre-packaged agreement before $356 million of debt payments come due March 15, 2020.
Such deals typically involve a Chapter 11 bankruptcy, which would allow the company to keep operating without interruption of telephone and broadband service to its customers.
Creditors have been pushing Frontier for a restructuring plan, and the company has warned that bankruptcy might be the result.