LA PLATA, Maryland — Satellite ground hardware manufacturer Comtech Telecommunications Corp. hired a turnaround specialist as its new chief executive, the company’s fourth CEO since December 2021, and broadened a strategic review of options including a possible sale as it seeks to stabilize its business.
The company has secured a grace period from its lenders after breaching a loan covenant but expects a further breach when the grace period ends at the end of this month. At that point it will depend again on the indulgence of its lenders and owners . . .
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