Frontier Tells Creditors It Seeks a March Bankruptcy
- Management wants a pre-packaged plan as March payments loom
- Creditors meet with CEO and sign confidentiality agreements
Photographer: Jason Alden/Bloomberg
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Frontier Communications Corp., the provider of telecom services in 29 states, is asking creditors to help craft a turnaround deal that includes filing for bankruptcy by the middle of March, according to people with knowledge of the matter.
Company executives including Bernie Han, Frontier’s new chief executive officer, met with creditors and advisers Thursday and told them the company wants to negotiate a pre-packaged agreement before $356 million of debt payments come due March 15, the people said. They asked not to be identified because the meeting was private.