Florida’s Brightline Seeks Rescue to Avoid a Possible Bankruptcy

Florida’s Brightline high-speed rail project is seeking options to address its debt load that avoid sending the Fortress Investment Group-backed firm into a possible bankruptcy, according to people familiar with the matter.

Brightline has recently revived efforts to find third-party investors, the people said, asking not to be identified discussing private information. Still, if it fails to secure another form of rescue financing or shed debt out of court, it may opt to seek a Chapter 11 filing, they said.

Negotiations with creditors over how to handle its $5.5 billion debt pile began in recent weeks, with Brightline hiring ...