Windstream expected to make bankruptcy filing

26 Février, 2019, 04:21 | Auteur: Auguste Feret
  • Windstream's bankruptcy is tied to the 2015 spinoff of a company now called Uniti Group Inc

On Monday, the Wall Street Journal and Bloomberg reported that Windstream could filing bankruptcy protection as early as today.

Internet service provider Windstream, which provides Internet services for thousands in Lexington, has announced it has filed for bankruptcy.

In a statement released on the company's website, Windstream officials said it has filed Chapter 11 protections in the U.S. Bankruptcy Court for the Southern District of NY to reorganize the company and address the company's debt. This decision, according to the statement, accelerated the maturity rate of Windstream's existing debt. Tony Thomas, CEO of Windstream, said that his company is taking steps to ensure the long-term viability of the company and is working with creditors in the restructuring of the company.

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"I want to express my appreciation for the continued focus of the entire Windstream team as well as the loyalty and patience of our customers, vendors, channel partners and other stakeholders", Thomas said.

Based in Little Rock, Ark., Windstream Holdings is a FORTUNE 500 company offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states, including Iowa with offices in Newton.

U.S. District Court Southern District Judge Jesse Furman ruled February 15 in favor of hedge fund Aurelius Capital Management of NY, which alleged that Windstream's spinoff violated the terms of some of its outstanding bonds.



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