After years of customer losses and a stifling debt of $17.5 billion, Frontier Communications was warned investors it may be forced to declare bankruptcy reorganization to protect its assets from creditors that are growing impatient with the phone company.

Analysts suggest Frontier is considering a Chapter 11 bankruptcy filing as early as the first quarter of 2020 as part of a sweeping reorganization of the company that will also include replacing its top management.

Bloomberg News reports corporate advisers have already begun looking for a replacement of CEO Dan McCarthy, a long term Frontier executive that began a career at Rochester Telephone Corporation before it was acquired by Frontier. McCarthy replaced former Frontier CEO Maggie Wilderotter in 2015. Since Wilderotter’s departure, Frontier’s share price has spiraled downwards and customers are leaving in droves. FULL STORY HERE