Windstream files for bankruptcy

Little Rock, Arkansas-based telecommunications company Windstream Holdings Inc. filed for Chapter 11 bankruptcy.

The filing comes two weeks after Windstream was hit with a $310 million judgment in court. A judge ruled the company violated bond rules related to the 2015 spinoff of its fiber and copper assets into a separate company, according to Arkansas Business.

CEO Tony Thomas called the bankuptcy filing "a necessary step to address the financial impact" of the judge's decision and "the impact it would have on consumers and businesses across the states in which we operate."

During the first three quarters of 2018, Windstream reported a net loss of $173.8 million. In 2017, the company's net loss was $2.1 billion.

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