Windstream charts new course for long-term financial stability
Windstream Holdings, Inc. and all of our subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. We intend to use the court-supervised process to address debt maturities that have been accelerated as a result of the recent ruling by Judge Furman in the Southern District of New York against Windstream Services.
A link to the company’s news releases is available here.
- Windstream is operationally strong, and we will continue to execute our strategy. We have sufficient liquidity to run our business throughout the court-supervised process.
- We intend to continue providing the critical voice and data services and ensuring customers realize the maximum benefit in transitioning to next-generation technology solutions and premium broadband services.
We are serving our customers as usual and maintaining our relationships with vendors and business partners.
“Following a comprehensive review of our options, including an appeal, the Board of Directors and management team determined that filing for voluntary Chapter 11 protection is a necessary step to address the financial impact of Judge Furman’s decision and the impact it would have on consumers and businesses across the states in which we operate. Taking this proactive step will ensure that Windstream has access to the capital and resources we need to continue building on Windstream’s strong operational momentum while we engage in constructive discussions with our creditors regarding the terms of a consensual plan of reorganization. We acted decisively to secure the long-term financial stability of Windstream, and we are confident that, upon completion of the reorganization process, we will be even better positioned to invest in our business, expand our speed and capabilities for our customers and compete for the long term.”