WATCH LIVE

Bankruptcy a Possibility for Fairpoint 

Fairpoint Communications could file for bankruptcy. That word comes from company officials.The North Carolina company took over Verizon’s landline phone network in Maine last year.Fairpoint officials say bankruptcy is a possibility if they don’t get more time to pay interest in 530-million dollars in loans.The prospect of bankruptcy has been raised by analysts, but thecompany had never mentioned it directly until Wednesday in a filingwith the Securities and Exchange Commission. Fairpoint has asked its lenders to postpone interest payments due in October and says if lenders won’t agree, it willneed to restructure. That could include filing for bankruptcy.Fairpoint lost 8-point-78 million dollars in the first quarter of this year.The company has been plagued with consumer complaints in recent months.