Brightline is facing a significant financial crisis and is having trouble paying its bills. An outside auditor’s report has raised “substantial doubt” about the company’s ability to continue operating as a going concern.
The report stated that Brightline “does not currently have the liquid funds necessary to service its debt and meet such other obligations as they become due,” according to the document.
Brightline carries $2.2 billion in long-term debt and owes another $2.5 billion in interest over the life of that debt. As reported by CBS News Miami’s news partners at the Miami Herald, the company was supposed to pay $117 million in interest this year but has deferred the payment while it seeks a money infusion. The grace period for the amount due is set to expire on June 15…