As expected, Charter Communications this morning filed for Chapter 11 bankruptcy, as part of a restructuring effort the company says will reduce their .7 billion debt load by billion. The company had previously stated they’d be filing before April 1. Charter CEO Neil Smit says he’s optimistic and that customers have nothing to worry about. “The financial restructuring is good news for Charter and our customers and, if approved, will result in Charter being better positioned to deliver the products and services our customers demand now and in the future,” says Smit. Charter has appointed Gregory Doody as its chief restructuring officer to oversee restructuring and prevent any disruptions to normal operations.
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