Categories: Local

Digicel Files for Bankruptcy

(Trinidad Express) – Regional telecommunications giant Digicel has filed for bankruptcy before the Bermuda courts, but it insists that its day-to-day operations will not be affected by the filing.

Digicel Chairman Denis O’Brien

The bankruptcy filing involves the appointment of three provisional liquidators from KPMG, the global services company.

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Coming days after the company implemented a group-wide salary reduction, the move is being seen as part of Digicel’s attempt to restructure US$1.6 billion of its estimated US$7 billion debt.

Anthony Wilson

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