On February 15, 2019, the U.S. District Court of the Southern District of New York ruled that Windstream had defaulted on some of its bonds. Consequent to the ruling, Windstream stock lost about 60% of its value.
On February 25, 2019, Windstream filed for Chapter 11 bankruptcy in response to a February 15th judgment against the company for $310 million.
In September 2020, emerging from bankruptcy as a privately held company, Windstream successfully completed its financial restructuring process and reduced its debt by over $4 billion.
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Paul H. Sunu became the president and CEO of Windstream on October 30, 2023. Sunu has been the chairman of the board since 2020. He is an accomplished executive with over 27 years of telecom experience, with a focus on rural telecommunication. He succeeds Tony Thomas, who has decided to depart the Company and step down from the Board, following a distinguished 17 years at Windstream.
It sounds like they didn’t just suck at providing services… At least the old CEO that ran it into the ground is gone, so that’s nice.
That is interesting. That Windstream came to town about 15 years ago, buying the local phone company and almost instantly made the service worse. I did not know they went bankrupt, but it doesn’t surprise me.
Is it this Windstream? If so:
It sounds like they didn’t just suck at providing services… At least the old CEO that ran it into the ground is gone, so that’s nice.
That is interesting. That Windstream came to town about 15 years ago, buying the local phone company and almost instantly made the service worse. I did not know they went bankrupt, but it doesn’t surprise me.