KENNEWICK, Wash.-- The struggling economy hits Charter Communications. The company announced it will file for bankruptcy by or before April 1st.
Company staff say their decision to file for Chapter 11 will not affect their services.
Charter is billions of dollars in debt. They have come to an agreement with some of the companies they owe money to and have reduced their debt by $8 billion.
Anyone who has invested in Charter stock will probably be hurt the most. Since all of Charter's common stock will be canceled.
Charter staff say they won't be raising their rates for any services and it will be business as usual.
"During this restructuring period we will continue to operate as usual and customers should understand that our operations are strong," said Anita Lamont, Charter Communications Spokesperson.
Company staff say there have been lay offs throughout the company but not any recent ones in connection to their bankruptcy.
Staff at the Kennewick office couldn't say if all Charter customers were going to be notified of any of this.
They say if you have any questions, call their customer service line.