A company that provides telephone and internet service to Hudson Valley residents announced plans to file for bankruptcy.

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Frontier Communications Corp. is planning to file for bankruptcy in March, Bloomberg reports. The company's new CEO met with advisors and creditors last week and said the organization needs to make a turnaround deal that includes filing for bankruptcy before a $356 million debt payment is due March 15.

Frontier Communications Corp provides internet and telephone service in 29 states, including New York. The plan would likely involve the company filing for Chapter 11 bankruptcy to allow the business to continue to supply customers with telephone and broadband service, according to Bloomberg.

Frontier's $17.5 billion debt load is in part due to many people have stopped using landlines.