Following its Chapter 11 filing last week, Frontier Communications is being delisted from the Nasdaq.
Last week, the Norwalk company announced it was filing for Chapter 11 in the face of 
mounting debt and the uncertain effects of the COVID-19 pandemic. By the end of the week, Frontier”™s shares, under the FTR symbol, were trading at 22 cents, compared with $2.69 on April 17, 2019.
Frontier lists total debt of $21.9 billion against assets of $17.4 billion, and has about $11.8 billion of mostly unsecured debt due between now and 2025.
The company is entering into a restructuring support agreement with bondholders and hopes to “focus on executing our strategy to drive operational efficiencies and position our business for long-term growth,” Frontier President and CEO Bernie Han said.
Nevertheless, FTR will be retired from the Nasdaq on April 24.
