LEXINGTON, Ky. (WKYT) - Internet service provider Windstream, which provides Internet services for thousands in Lexington, has announced it has filed for bankruptcy.
Windstream filed for Chapter 11 bankruptcy in order to address debt issues which were "accelerated" following a judge's decision against a company subsidiary.
"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," Windstream president and CEO Tony Thomas said. "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."
Thomas said the bankruptcy filing will allow them to continue servicing its customers. Lexington is one city where Windstream offers television, phone and internet services to residential customers.
Windstream provides residential services in 18 states.