Byline: Terry Brennan
Private equity-backed telecom Ntelos Inc. filed Tuesday, March 4, for Chapter 11 bankruptcy protection after missing payments on two series of unsecured bonds valued at $375 million.
Waynesboro, Va.-based Ntelos, backed by a $225 million infusion from private equity firm Welsh, Carson, Anderson & Stowe, and 13 owned subsidiaries filed in U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond.
The company, formerly CFW Communications Co., was scheduled to appear Tuesday before Judge Douglas Tice seeking approval of a $35 million debtor-in-possession loan from Wachovia Corp.
Ntelos was also expected to …