Thread regarding Windstream Corp. layoffs

Request to extend bankruptcy and exclusivity into 2020

Management has filed a request to extend the process to Spring 2020.

http://www.kccllc.net/windstream/document/1922312190527000000000001

This includes the debtor-in-possession’s (“DIP” — i.e., management and the board) period of exclusivity to file a plan of reorganization. During that time, no other plans from creditors or potential hostile acquirers can be filed.

The brief motion lays out management’s list of accomplishments to date and their rationale.

Based on painful experience elsewhere, I’m not surprised they need more time for a complex bankruptcy like this — that’s typical if a big, complex company’s not going to be liquidated.

Exclusivity is typical, too, although another 9 months is a long time.

We’ll see what the creditors say.

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Post ID: @ZhjHGzj

8 replies (most recent on top)

And consolidated looks to be struggling now - rural ILECs and their expansion plans haven’t been too fruitful- centurylink may be the closest to being successful but they too look tenuous

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Post ID: @ZhjHGzj-4mae

It’s over folks. To the people not wanting to start over, imagine how hard it will be to get a job when this all ends.

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Post ID: @ZhjHGzj-2bvj

I bet they are stretching it out to collect their exec bonuses approved by the court and will dump the company into chapter 7 after that.

Those bonuses have a time factor that’s just about as long as the extension

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Post ID: @ZhjHGzj-1pwr

What assets does Win have at this point?

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Post ID: @ZhjHGzj-1dkd

Employees better run not walk. Account huggers are in trouble.

Better hope you can win some government funded RFPs.

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Post ID: @ZhjHGzj-1jcm

"I've accomplished in getting another 10 million" Tony Thomas

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Post ID: @ZhjHGzj-1zrr

"The brief motion lays out management’s list of accomplishments to date and their rationale."

It should be a very brief motion. Their list of accomplishments is very small.

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Post ID: @ZhjHGzj-1oki

It took Fairpoint a while to emerge from Chapter 11, after they did, they were scooped up by Consolidated Communications for a huge discount.

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Post ID: @ZhjHGzj-vlz

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