IWO Holdings Files 'Pre-Packaged' Chapter 11 Plan to Achieve Previously Announced Financial Restructuring.LAKE CHARLES, La. -- IWO Iwo (ē`wō), city (1991 est. pop. 320,000), SW Nigeria. It is the trade center for a farm region specializing in cacao. A coffee plantation is located nearby. Iwo was the capital of a Yoruba kingdom (founded in the 17th cent. Holdings, Inc., a PCS affiliate of Sprint (NYSE NYSE See: New York Stock Exchange : FON) and subsidiary of US Unwired Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : UNWR), announced today that it and its subsidiaries have filed a "pre-packaged" chapter 11 plan to implement its previously announced financial reorganization to restructure and substantially reduce the Company's debt, strengthen its balance sheet and increase its liquidity. The plan was filed on January 4, 2005 in U.S. Bankruptcy Court for the District of Delaware and IWO anticipates emerging from chapter 11 by the end of February 2005. The Company expects to continue normal operations throughout the restructuring process. All services provided to customers are expected to continue in the ordinary course of business. IWO Holdings, Inc., through its Independent Wireless One Corporation subsidiary, is a PCS affiliate of Sprint. IWO provides mobile digital wireless personal communications services See PCS. , or PCS, under the Sprint and Sprint PCS brand names in upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. , New Hampshire (other than Nashua market), Vermont and portions of Massachusetts and Pennsylvania. |
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