WorldCom’s statement that business will continue as usual is a move designed to quell fears among its customers that the company’s bankruptcy would result in a disruption of services. WorldCom’s customers have been approaching rivals such as Sprint, AT&T and SBC Communications ever since the accounting fiasco became public knowledge.
WorldCom also said that it has secured over $2 billion in financing to help it though the planned period of reorganization and restructuring. The company has also sought the services of a specialist restructuring team to help guide it through the process. WorldCom is hoping that it will emerge from bankruptcy protection sometime within the next 12 months.
