Carlyle-Backed Hawaiian Telcom Files for Chapter 11

Hawaiian Telcom Communications Inc. has filed for Chapter 11 bankruptcy protection, and says that it will continue operations while restructuring. The company currently has around $75 million of cash on hand. The Carlyle Group formed HTC in 2005, following its $1.65 billion acquisition of Verizon Hawaii from Verizon Communications. The deal included Verizon's Hawaii-based local telephone operations, plus its print directory, long distance and Internet service provider assets.

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