Fairpoint says bankruptcy possible
Monday, 06/29/09
- CONCORD, N.H. (AP)
Options
Fairpoint Communications - the North Carolina company that bought Verizon's landline phone network in northern New England last year - says bankruptcy is a possibility if it doesn't get more time to pay the interest on $530 million in loans.
The prospect of bankruptcy has been raised by analysts, but the company had never mentioned it directly until Wednesday in a filing with the Securities and Exchange Commission. The Concord Monitor reports that the company has asked its lenders to postpone interest payments due in October and says if lenders won't agree, it will need to restructure. That could include filing for bankruptcy.
Fairpoint, which has been beset with consumer complaints in recent months, lost $8.78 million in the first quarter of this year.
VPR Headlines
- Following DUI Charge, Salmon Speaks To Personal Responsibility Friday, 11/20/09 5:50pm
- Leahy To Meet With Homeland Security On Farm Worker Crackdown Friday, 11/20/09 5:50pm
- Rutland Remembers Joseph Foley Friday, 11/20/09 5:50pm
- Racine Supports Program Cuts, Tax Increases To Balance Budget Friday, 11/20/09 5:50pm
- VT Edition: Doug Racine Friday, 11/20/09 1pm
Vermont Edition
- Hunger Worsens In Vermont Monday, 11/23/09 Noon and 7pm
- State Senator Doug Racine Friday, 11/20/09 Noon and 7pm
- Going Blind Later In Life Thursday, 11/19/09 Noon and 7pm
Commentaries
© Copyright 2009, Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.