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Leap Files for Chapter 11

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Apr 15, 2003, 9:50 AM by (staff)

Leap Wireless filed for Chapter 11 bankruptcy protection on Sunday. Leap offers local wireless service through its main subsidiary, Cricket Communications, in 40 markets around the country. The company said it is close to reaching an agreement with major creditors on a plan to restructure its debt. A final agreement is expected to be approved in the next few weeks. The company said all its operations will continue during the restructuring, and it does not anticipate any organizational changes or reduction in work force as a result of the filing.

Reuters »

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