Adelphia Communications, the troubled cable operator, dismissed its auditors, Deloitte & Touche, yesterday, even as the company appeared to come closer to filing for bankruptcy protection. Leonard Tow has become increasingly frustrated at the prospect of obtaining new financing for Adelphia. ... Analysts expect the company to file for Chapter 11 bankruptcy protection this week, since it has a $50 million interest payment on bonds due Saturday that it cannot pay. Bondholders could force the company into bankruptcy if it does not act first. |
