On Tuesday, Texas based telephone directory publisher Idearc Inc filed for Chapter 11 bankruptcy. The company lists approximately $9 billion in debt which it plans to restructure.

The company projects leaving bankruptcy with $3 billion in debt and a cash balance of $150 million. The company is planning to run as usual throughout the restructuring process.

If you are considering bankruptcy, contact the Galveston bankruptcy lawyers of Gipson, Norman & Root at 409-765-6000.