FORT WAYNE, Ind. (WANE) Frontier Communications is considering filing for bankruptcy. Reports have been released that the national internet, T.V., and phone company is in serious debt.
The national telecom company, which operates in 29 states and employs more than 20,000 workers, has an office in Fort Wayne located at 8001 West Jefferson Blvd.
WANE 15 visited the office Monday, but no one in management was willing to talk with us.
The anonymous workers outside of the building are on edge. They’re wondering what the possible bankruptcy filing could mean for their jobs. The company has laid off hundreds of workers nationwide in the last several years.
Bloomberg News reported about the possible bankruptcy earlier this month. They said company executives are asking creditors for a restructuring deal, which could very well include filing for Chapter 11 bankruptcy in March. The report said Frontier owes more $356 million dollars of debt payments, which are due on March 15.
The report also said a restructuring deal would allow the company to keep operating without broadband and television services being interrupted for its customers.
WANE 15 received the following statement Monday from a Frontier vice president:
“Frontier’s business and operations are solid, and serving our customers remains our top priority. As we have said publicly, Frontier is evaluating its capital structure with an eye to reducing debt and interest expense, so as to be able to better serve our customers. Our customers should expect no changes as we remain focused on providing quality communications services.” – Javier Mendoza, Vice President of Corporate Communications and External Affairs, Frontier Communications
WANE 15 then asked the company VP what this could mean for workers, such as those in Fort Wayne. So far, there’s been no response.