Windstream files for Chapter 11 bankruptcy
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The city of Mount Ayr has been informed of the Chapter 11 bankruptcy filing by Windstream Holdings Inc., the company that furnishes a major portion of telecommunications services within the city.
As a utility, the company is required by law to inform cities of its impending reorganization.
According to published reports, the move comes following a $ $549 million loss and a more than $100 million drop in revenue and sales for the fourth quarter of 2018 compared to the same quarter in 2017.
According to RCR Wireless News, Kris Monteith, chief of the FCC’s Wireline Competition Bureau, issued a statement saying although he is “pleased that Windstream has made clear that its reorganization in bankruptcy will not disrupt service to any consumers,” that “nonetheless, we must be vigilant in light of these events to ensure that the lifesaving 911 service and the voice and broadband connections that Windstream’s customers rely upon remain—and that the federal funds that Windstream receives through the Connect America Fund and other universal service programs are put to their appropriate use to connect rural and low-income Americans with high-speed broadband.”
Windstream serves about 1.4 million consumers and small businesses in 18 states. In many instances, Windstream is the sole provider of telecommunications services in rural areas.