Horizon Lines Bonds Fall; Company Said to Weigh Bankruptcy
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Horizon Lines Inc., the shipping company that agreed to pay a $45 million fine to resolve price-fixing charges, may file for bankruptcy as soon as April, according to three people familiar with the matter.
Horizon Lines failed to receive bondholder approval to waive a default after the fine and may be forced to seek court protection if talks with creditors to restructure its debt fail, the company said in a March 28 regulatory filing. The company may seek to swap its debt for equity to avoid bankruptcy, said the people, who declined to be identified because the talks are private.