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| Williams Communications Files for Chapter 11 by Jeremy at 5:52 am EDT, Apr 25, 2002 | |||
Williams Communications Group filed for bankruptcy late Monday night, part of its plan to restructure $6B in debt. The filing came after the company was give a Friday deadline to restructure the $6B in debt owed to its creditors. It expects to file a reorganization plan "in the near future." ... The company amassed its $5.9B debt constructing a 33,000-mile fiber-optic network ... stock was once at $40 a share but is now sold for less than a quarter. | |||
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