Fairpoint Puts Bankruptcy on the Table

Fairpoint Communications has mentioned the dreaded “b” word in its latest filing to the Securities and Exchange Commission, which could make it the next company of many to file for bankruptcy in these harsh times. According to the filing, Fairpoint will go forward with bankruptcy if cannot negotiate an extension on its interest payments with its debt holders.
 
Based in North Carolina, Fairpoint recently took over Verizon’s landline phone network in Maine, Vermont, and New Hampshire. Despite its recent acquisition, Fairpoint has struggled with a variety of problems, not the least of them being the interest payments on its $530 million …read more