Horizon Lines says most of its customers are sticking with the financially ailing container line despite an accountant’s note that cited doubt about the company’s status as a going concern.
Horizon said last month it expects to default this quarter on $330 million in debt unless it can persuade bondholders to waive covenant violations triggered by the company’s recent agreement to pay $45 million for pleading guilty to price-fixing in the U.S. mainland-Puerto Rico shipping trade.