Horizon Lines says most of its customers are sticking with the financially ailing container line despite an accountant’s note that cited doubt about the company’s status as a going concern.
Horizon said last month it expects to default this quarter on $330 million in debt unless it can persuade bondholders to waive covenant violations triggered by the company’s recent agreement to pay $45 million for pleading guilty to price-fixing in the U.S. mainland-Puerto Rico shipping trade.
[...] Longshore & Shipping News AKPC_IDS += "19484,";Popularity: unranked [?] Filed Under Longshore News Tagged With customers, Haven’t, Horizon, Left, says, Troubled [...]
[...] Troubled Horizon Says Customers Haven t Left Horizon Lines says most of its customers are sticking with the financially ailing container line despite an accountant's note that cited doubt about the company's status as a going concern. … last month it expects to default this quarter on $330 million in debt unless it can persuade bondholders to waive covenant violations triggered by the company's recent agreement to pay $45 million for pleading guilty to price-fixing in the US mainland-Puerto Rico shipping trade. … Troubled Horizon Says Customers Haven t Left [...]