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Amp'd Files For Bankruptcy Protection

Article Comments  27  

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.

more info at Wall Street Journal »
more info at Moco News »

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Subject Author Date
growing too fast...? Shaggy145J Jun 2, 2007, 11:37 PM
My prayer for Amp'd Mobile RaunchyFarts Jun 10, 2007, 1:09 PM
Damn! chocolateman85006 Jun 5, 2007, 8:09 AM
  • Re: Damn! by frankiewawa   Jun 5, 2007, 8:18 AM
    • Re: Damn! by chocolateman85006   Jun 5, 2007, 8:29 AM
"will this affect customers?" roberto92989 Jun 3, 2007, 2:11 PM
Good softtouchmoto Jun 3, 2007, 10:31 PM
Wow ehrenboi Jun 2, 2007, 10:16 PM
  • Re: Wow by ralph_on_me   Jun 2, 2007, 10:38 PM
  • Re: Wow by evrodude   Jun 3, 2007, 4:19 PM
Ampd- Try Not To Die Yankees368 Jun 3, 2007, 10:15 AM
 
 
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