Amp'd Files For Bankruptcy Protection
Jun 2, 2007, 9:19 PM by (staff)
Amp'd Mobile filed for Chapter 11 bankruptcy late on Friday. The company owes over $100 million dollars to a variety of creditors, including $33 million to network provider Verizon and $16 million to hardware provider Motorola. The virtual carrier has taken five rounds of funding from the like of MTV, Qualcomm and a number of investors. Chapter 11 allows a company to reorganize its debt, and does not indicate that Amp'd is going out of business, though in some cases Chapter 11 is a precursor to this. President Bill Stone says the company has been growing too fast, and that the MVNO will emerge from Chapter 11 stronger.
growing too fast...?
In this situation fixed is wages, equipment costs, rent, etc. The variable cost though is related on every...
My prayer for Amp'd Mobile
"will this affect customers?"
Ampd- Try Not To Die