CWT Skips Bond Interest Payment, Looks To 'Strengthen Financial Position'

CWT skipped a bond interest payment that came due this week as it negotiates with creditors on restructuring debt, Bloomberg reported. The travel management company in a statement confirmed it is "in active discussions with our owners and bondholders to further strengthen our financial position and accelerate our ability to invest in our business. These discussions have been positive, and we are making great progress."