| Frontier Communications filed for Chapter 11 bankruptcy protection Tuesday evening, according to a statement from the company.
The company said it hopes the protection will allow it to reorganize more than $10 billion in debt while continuing operations.
"With this agreement with our Bondholders, we can now focus on executing our strategy to drive operational efficiencies and position our business for long-term growth,â Frontier P)resident Bernie Han said. âAt the same time, the COVID-19 pandemic continues to impact the entire business community, and our team is focused on ensuring the health and safety of our employees and customers."
Frontier sent a letter to the West Virginia Public Service Commission, stating it is not going out of business. Instead, the company said it is taking these steps to position the company for long-term success.
"All of Frontierâs customers will continue to receive service," PSC Chairman Charlotte Lane said. "Hopefully, as part of this planned bankruptcy, Frontier will have cash and start addressing some of the problems that we have seen over the past several years with regard to the service that it has been providing to West Virginia customers."
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